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,
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 StrategyIn 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.