Cramer's 'Mad Money' Recap: Stock Picker's Market (Final)

Search Jim Cramer's Mad Money trading recommendations using our exclusive Mad Money Stock Screener and watch Jim Cramer's Mad Money Post Game video exclusively on

(Story updated to add Cramer's comments on the picks of callers in his "Am I Diversified?" segment.)

NEW YORK ( TheStreet) --It's still not to late to take some money off the table.

That was Jim Cramer's takeaway for his "Mad Money" TV show viewers Wednesday. He told investors to forget about how the major averages are fairing and instead focus on individual stocks, some of which are doing well while others are imploding.

Cramer said that in the markets of old, stocks tended to trade together, but not in today's market. In today's market, companies like Cypress Semiconductor ( CY), a Cramer favorite, announced seriously disappointing earnings, while rivals like Qualcomm ( QCOM) and Broadcom ( BRCM), a stock which Cramer owns for his charitable trust, Action Alerts PLUS were both up sharply.

In the telco equipment space, shares of Ciena ( CIEN) rallied while rival Cisco ( CSCO) saw its shares slide south. The oil service sector was also mixed, with Ensco ( ESV), another Action Alerts PLUS name, heading higher and Baker Hughes ( BHI) heading lower.

Cramer said this pattern is repeating in sector after sector. The price of oil was up, but oil stocks were down. Gold was up, gold stocks were down. Apparel maker Lululemon Athletica ( LULU) rallied, while Deckers Outdoor ( DECK), a sector favorite, was down sharply.

Cramer said with all this volatility in everything from the rails to the drugs to the industrials, investors need to lighten up on their winners and swap out of their losers. He said all of the major risk factors, including Greece, Iran and China, are still in play.

Apple Trade

"It's getting difficult to trade Apple," Cramer told viewers on the heels of the company's big iPad announcement earlier today. He said the better strategy, "invest in Apple."

Cramer said that many pundits are weighing in on whether Apple ( AAPL), an Action Alerts PLUS name, is worth owning after the stocks' big run ahead of the announcement. Traditionally, Apple shares have run up ahead of new products, only to sell of afterwards. But Cramer said he's done trying to trade Apple, he'd just rather own it for the long haul.

Will consumers buy the new iPad in droves? Absolutely, said Cramer. Moreover, the device is making major in-roads in the corporate world as Research In Motion's ( RIMM) Blackberry is riding off into the sunset.

Cramer also cited a recent USA Today article noting that older iPads are being handed down to family members as newer models are released. He said this is the same pattern that the iPod followed, as kids introduced the new, hot devices to their parents.

Cramer said no matter how you look at it, shares of Apple are still cheap and are still worth owning for the long haul.

Seasoned Dot-Com

Looking for an Internet stock? Cramer said "forget about the dot-com IPOs" like Pandora ( P), Yelp ( YELP) and Groupon ( GRPN).

What investors really need is a seasoned dot-com that's been around the block a few times. Cramer said that IAC Interactive ( IACI) is the polar opposite of a stock like Yelp. This company has no hype, but a ton of earnings.

Shares of IAC are largely overlooked on Wall Street, explained Cramer, but that hasn't prevented shares from rising 49% last year and an additional 10% so far this year. IAC now trades just off its 52-week high. IAC has been a consistent earner ever since the company split itself into five separate entities in 2008.

The remaining IAC properties consist largely of, the preeminent dating Website that accounts for one quarter of its revenues and nearly half of its profits. With 1.7 million subscribers, Cramer said that does the Internet right, offering proprietary content that keeps people paying up month after month. revenues were up 46% this past quarter.

IAC also has a lucrative search business, a segment which saw revenues increase by 35%. Instead of competing with Google ( GOOG) directly, Cramer said that IAC largely uses search toolbars, which increases loyalty.

IAC is also a shareholder friendly company. It's huge stock buyback program has reduced the company's share count by 42% over three years noted Cramer, leaving the company trading at just 14.5 times earnings with a 14.5% long term growth rate.

Growth and Yield

In the "Executive Decision" segment, Cramer sat down with Mike Stice, president and CEO of Chesapeake Midstream Partners ( CHKM), a natural gas gathering master limited partnership with a 12% growth rate and a juicy 5.4% dividend yield.

Stice started off by saying that he's encouraged by the Obama administration's recent support for natural gas vehicles. He said the move will give consumers a choice to use a low-cost fuel that's good for the environment and ultimately that means more demand for domestic natural gas.

He was also equally excited about a recently announced partnership between Chesapeake Energy ( CHK) and General Electric ( GE) to offer home fueling stations for natural cars in homes that already use natural gas for heating and cooking. "The same pipe that delivers gas for your heat can also fuel your car," he said.

Stice also commented on the benefits of owning a master limited partnership. He said that the performance of MLPs in 2011 was "awesome," but he also noted that not all MLPs are created equal. Some, like Chesapeake Midstream, are 100% fee based, meaning that have no risk to the price of natural gas itself. Other MLPs are at least partially dependent on the price of the commodity they move.

Stice also clarified the company's relationship with Chesapeake Energy. He said that Chesapeake Midstream is not beholden to its larger sibling and his company has good governance and independent directors to make sure the assets they acquire are right for the company.

That said, Stice indicated that Chesapeake is a great partner and there's no doubt that distributions to shareholders will be increasing in the future.

Cramer said that Chesapeake Midstream is one of only a few companies that offer growth plus yield.

Lightning Round

Cramer was bullish on EOG Resources ( EOG), SPDR Gold Shares ( GLD), HEICO ( HEI) and Interactive Brokers ( IBKR).

Cramer was bearish on Avon Products ( AVP), Hess ( HES), Barrick Gold ( ABX), Dell ( DELL), John Deere ( DE) and Corning ( GLW).

Am I Diversified?

Cramer spoke with callers to see if their portfolios have what it takes for today's markets. The first caller's portfolio included: New York Community Bank ( NYB), Magellan Midstream Partners ( MMP), Navios Maritime ( NM), Merck ( MRK) and Verizon ( VZ).

Cramer said this portfolio was diversified.

The second caller's top holdings included Altria ( MO), Bristol-Myers Squibb ( BMY), ConocoPhillips ( COP), DuPont ( DD) and First Energy ( FE).

Cramer said this portfolio was "well played."

The third caller had Apple ( AAPL), Healthcare REIT ( HCN), Honeywell ( HON), Energy Transfer Partners ( ETP) and ConocoPhillips ( COP).

Cramer was also bullish on this portfolio, which he said had both growth and yield.

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

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

Follow TheStreet on Twitter and become a fan on Facebook.

To submit a news tip, send an email to:

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

Click here to sign up for Jim's Daily Booyah to get the Mad Money recap delivered to your inbox.

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

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 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, 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, 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 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, 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.

If you liked this article you might like

ON Semiconductor, XPO Logistics, Cryus One: 'Mad Money' Lightning Round

ON Semiconductor, XPO Logistics, Cryus One: 'Mad Money' Lightning Round

Thank Goodness It's Friday: Cramer's 'Mad Money' Recap (Friday 3/23/18)

Thank Goodness It's Friday: Cramer's 'Mad Money' Recap (Friday 3/23/18)

What Investing Legends Do When the Stock Market Stumbles

What Investing Legends Do When the Stock Market Stumbles

Broadcom and Intel Could Eye New Deals Following Trump's Qualcomm Ruling

Broadcom and Intel Could Eye New Deals Following Trump's Qualcomm Ruling

Trump's Broadcom Order Should Spur, but Also Complicate, Other Chip Deals

Trump's Broadcom Order Should Spur, but Also Complicate, Other Chip Deals