Bullish

JDSU (JDSU), McAfee (MFE), Broadcom (BRCM), Motorola (MOT), Garmin (GRMN), Goldman Sachs (GS), Target (TGT), VeriFone Holdings (PAY), Goldcorp (GG), Anglo American (AAUK), Schering-Plough (SGP), Cendant (CD), Genentech (DNA), Amgen (AMGN), Celgene (CELG) and Gilead Sciences (GILD).

Bearish

RSA Security (RSAS), InPhonic (INPC), Tiffany (TIF), Kinross Gold (KGC), Bentley Pharmaceuticals (BNT), Friedman Billings Ramsey (FBR) and VCA Antech (WOOF)

Audience portfolio’s discussed:

Gymboree (GYMB) – Hold.

Diamond Offshore (DO) – One of Cramers favorite drillers.

Medco Health Solutions (MHS) and UnitedHealth Group (UNH) – Bullish.

Still to low at Wednesday’s closing price, a holiday play is Deckers Outdoor (DECK) which makes Uggs. This stock has been a “house of pain” and failed to deliver but the shorts are pressed too hard and the stock dropped much further than it should have. The price to earnings is about 10 times, where as other companies compare: Brown Shoe (BWS) at 14 times, Nike (NKE) at 17 times, Reebok at 18 times and Stride Rite (SRR) at 18 times earnings. With Oprah pushing these and Uggs being Amazon.com’s top sellers they are bound for a big bump.

Bullish
Microsoft (MSFT), VeriSign (VRSN), PepsiCo (PEP), Caterpillar (CAT), Apple Computer (AAPL), ACE Cash Express (AACE), Quidel (QDEL), UnitedHealth Group (UNH), Legg Mason (LM), Google (GOOG), ResMed (RMD), Agilent Technologies (A), United Parcel Service (UPS), Evergreen Solar (ESLR), Chico’s FAS (CHS) and Walt Disney (DIS).
Bearish
Merck (MRK), Andrx (ADRX), DaVita (DVA), Fiserv (FISV), Bottomline Technologies (EPAY) and bebe stores (BEBE).

Cramer is bullish on Crown Castle (CCI) and he had the CEO John Kelly via phone on Mad Money tonight. Cramer asked Kelly if the bull market in cell-phone towers is sustainable.
Kelly said it is. Cramer asked if CCI’s stock buybacks are working “or should you be giving us dividends? Should you be doing something else?” Kelly said CCI looks at all options when making investments but believes the best investment right now is in its own towers. “That’s our euphemism for buying back our shares. It’s creating additional ownership in our towers,” he said. Cramer wanted to know if CCI was seeing any signs of a slowdown. “Not from what we see,” said Kelly. Cramer summed up the interview saying he wished the stock would pull back because “That story’s for me!”

Cramer was bullish on Centeral European Media (CETV) tonight because he feels that the move by Harrah’s Entertainment (HET) to build a casino there has made the region investable. But, Harrah’s Slovenian casino won’t be finished until 2008, too far off to make Harrah’s a play on Slovenia, he said. And, it’s too hard to do homework to invest in companies in Slovenia that don’t trade here. However, Central European Media (CETV), an operator of private TV stations in central Europe, does trade in the U.S. and derives 18% of its revenue and 26% of EBITDA from Slovenia, said Cramer. CETV owns two of the top four networks in Slovenia and has a 35% market share there, he said. CETV reported 138% year-over-year revenue growth last quarter, and although the stock appears expensive at 83 times this year’s earnings, the company is growing so fast, it is trading at just 24 times next year’s earnings, he said. Cramer thinks you will make out like a bandit with CETV.

Cramer was bullish on Becton, Dickinson (BDX) tonight. Cramer stated that he read how people are too fat for injections and need longer needles to get the job done. Cramer thinks hospitals will need to buy longer needles and that’s good news for BDX. Cramer also likes BDX’s products for weight gain and aging, he thinks BDX is best of breed. Cramer stated don’t buy it all at once it’s not as cheap as it was last month.

Questions:
Boston Scientific (BSX) Sell
Spectranetics (SPNC) not best of breed

Cramer is bullish on CACI International (CAI) tonight. Cramer thinks that CAI is a good play off the news that Republican U.S. Rep Randy Cunningham accepted $2.4 million in bribes. Cramer said private defense contractor MZM has been implicated in the bribery scandal and that Congress may have to cancel possibly tainted contracts with MZM or even stop doing business with the company. Such action would be a windfall for MZM’s biggest competitor, CACI International CAI. Cramer also stated that he thinks that CAI is worth owning even without this news. Cramer also commented with a “don’t buy” on defense stocks in general. He thinks that the recent hurricanes and Bush’s low approval rating will keep defense spending at bay.

We are in a mixed market and this is perfect for bulls says Cramer to start his radio show. Bears were out in force on Monday due to holiday sales over the weekend coupled with the housing sell off over concerns about the number of unsold homes. Tuesday they were quiet amidst reports of better than thought retail sales and new-home sales being robust. Cramer thought the economy “might be enfuego.” Stating further, “We’re in just the right postition… where we can continue to creep highter.” Don’t be greedy even with a good economy because as Cramer always says, “pigs get slaughtered.”
The Danger Zone focused on cable stocks. The FCC began talks about companies unbundling their channel offerings. This means bad news for Comcast (CMCSA), Cablevision (CVC), and Time Warner (TWX). If the companies unbundle cash flow will become unpredictable with consumers able to pick their own channels.
Retail discussed today:

• Abercrombie & Fitch (ANF) – If you must own one teen-retailer this is the one.
• GameStop (GME) – Bullish, we are entering a “once in a lifetime massive cycle of video game hardware.”
• Best Buy (BBY) – Cramer likes BBY.
• Foot Locker (FL) – Business model is flawed, and Cramer thinks this is “not a great company.”
• V.F. (VFC) – “Best of breed clothing company” that is too cheap and should be owned.
• Sears Holdings (SHLD) – Doesn’t like short term, long term Cramer is still bullish on SHLD.

Bullish

NitroMed (NTMD), Amgen (AMGN), Powerwave Technologies (PWAV), Chesapeake Energy (CHK), PetroQuest Energy (PQUE), Ameritrade (AMTD), National City (NCC), Commerce Bancshares (CBSH), Commerce Bancorp (CBH), JDS Uniphase (JDSU), Brown & Brown (BRO), Pixar (PIXR), Broadcom (BRCM) and PPG Industries (PPG).

Bearish

Cell Genesys (CEGE), World Fuel Services (INT), Nektar Therapeutics (NKTR), Southwest Airlines (LUV), Equitable Resources (EQT), Constellation Brands (STZ), Atmel (ATML), Checkpoint Systems (CKP), Under Armour (UARM) and Research In Motion (RIMM)