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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.
Apache (APA) : There are still opportunities in the oil patch, Cramer told viewers, even with sinking crude prices. While many oil companies are growing through acquisition, there's still one that's making money the old-fashion way -- by finding more oil on land it already has.
Cramer said Apache's (APA) Alpine High discovery, announced on Sept. 7, is a huge win for this engineering and production company that lost its way a few years ago but is now focused on all the right things.
While many considered the Alpine High too difficult to drill, Apache proved the opposite to be true. As it turns out, the area has a low concentration of clay, not a high concentration as many had predicted. Apache began quietly acquiring 307,000 contiguous acres at distressed prices, averaging just $1,300 an acre.
Cramer said the Alpine High discovery is not yet priced into Apache's shares, and he'd be a buyer after the company reports earnings on Thursday.