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NEW YORK ( TheStreet) -- "Stop worrying and get long," Jim Cramer told the viewers of his "Mad Money" TV show Thursday.

He said the buyers are clearly in control of this market, and they're looking at the world through rose-colored glasses.

Cramer said even he thought the markets would be down today, with unemployment claims still too high, bank earnings too low, commodity price inflation and for-profit colleges once again in the meat grinder. But he said the market had other ideas and turned the negatives into positives.

Cramer told investors they need to look at the bigger picture. A ban on home foreclosures may be bad for the banks, but its good for retailers who can capitalize on consumers with extra cash in their pockets. He said TJX Companies ( TJX) and Ross Stores ( ROST) are two that should go well.

With unemployment still too high, Cramer suggested buying Family Dollar ( FDO) or Dollar General ( DG).

With commodities heading higher, he said why not invest in gold, or copper or silver. And with the growth opportunities being stripped from the for-profit colleges, he why not look into sectors that have growth, with companies like Apple ( AAPL), a stock which he owns for his charitable trust, Action Alerts PLUS .

"The silver linings are everywhere," said Cramer. Even Yahoo! ( YHOO), the most heavily shorted stock last month, now may be the most valuable as news of a possible break up of the company surface.

"Look for opportunities" because they're out there, said Cramer.

Fighting Diabetes

"Diabetes is a massive and growing problem in this country," Cramer told viewers as he continued his weeklong series of smaller biotech companies working on transformational drugs to treat major illnesses.

Cramer said the diabetes epidemic in the U.S. is huge, with 23.6 million patients in the U.S. alone. Scarier still are the estimates for over 38 million cases by 2020.

Among the major biotech firms, Cramer said he likes Sanofi-Aventis ( SNY) for its Lantus brand of insulin. He said the company's insulin, along with its monitoring and treatment options make the company a compelling play.

Turning to the smaller companies however, Cramer recommended both Alkermes ( ALKS) and Amylin Pharmaceuticals ( AMLN). He said both companies are jointly working on Bydureon, a revolutionary once-a-week injection to control diabetes. Cramer said the drug could be a $2 billion opportunity.

Cramer said Alkermes is the low-risk way to play Bydureon, as the company will not be taking on the costs of manufacturing the drug if approved. The company also has an anti addiction drug which is a $300 million opportunity.

Amylin, on the other hand, has more risk if Bydureon doesn't take off, said Cramer. He said this company is a longer-term play on the fight against diabetes.

No Long-Term Strategy

In the Thursday "Sell Block" segment, Cramer railed against Constellation Energy ( CEG), adding the company's CEO, Mayo Shattuck, to his "Wall of Shame" list of the worst CEOs.

Cramer said Constellation just withdrew its application for a $7.5 billion loan guarantee from the federal government to build a new nuclear power facility in Maryland. He said instead of gaining a long-term partner to build new nuclear plants, Constellation instead chose to focus on the short-term financing terms.

Cramer said the move shows that Constellation clearly has no long-term strategy . Back in 2008, the company's shares plummeted from $100 to just $13 a share on news of an accounting error related to its energy trading business. With the company in turmoil, Constellation turned to high profile investor Warren Buffett, only to terminate that deal weeks later at a cost of $593 million.

Cramer said while there is now speculation that Constellation may be a takeover target, he said investors simply cannot own a stock where the fundamentals are deteriorating. "This stock cannot be owned until Shattuck is gone," he said.

As a better alternative, Cramer recommended Progress Energy ( PGN), a company with better management and a 5.6% dividend yield.

More Homework

In the "Executive Decision" segment, Cramer spoke with Alfred Mann, chairman and CEO of Mannkind ( MNKD), a company working on an inhaled insulin product for diabetes, but also one that Cramer said may be too risky to invest in.

Mann said he's put almost $1 billion of his own money into Mannkind, and the company overall has raised almost $1.5 billion to develop its product. He said unlike Pfizer's ( PFE) inhaled product, which had no redeeming qualities, Mannkind's drug mimics how the body normally receives insulin without the side effects of low blood sugar or weight gain.

When asked about the company's financing, Mann said that he chose to offer a convertible bond because it was the least dilutive option for Mannkind shareholders. If the drug gains approval, Mann said it could represent a multi-billion opportunity for the company.

Cramer remained cautious on Mannkind, telling viewers that while the company has a compelling case, investors must do extensive homework on the company before buying in.

Lightning Round

Cramer was bullish on Deere & Co ( DE), Cirrus Logic ( CRUS), Silver Wheaton ( SLW), iShares Silver Trust ( SLV), CPFL Energia ( CPL), Agrium ( AGU) and CF Industries ( CF).

He was bearish on Centrais Electricas Brasileiras ( EBR).

--Written by Scott Rutt in Washington, D.C.

To contact the writer of this article, click here: Scott Rutt.

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To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here.

For more of Cramer's insights during the Lightning Round, click here .
At the time of publication, Cramer was long Apple.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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