Bullish
Ultra Petroleum Corp (UPL), Peabody Energy Corp (BTU), Finisar Corp (FNSR), BHP Billiton (BHP), Southern Copper Corporation (PCU), Ladish Co. Inc (LDSH), Boeing (NYSE:BA), Amerada Hess Corp (AHC), Houston Exploration (THX), Hana Biosciences Inc (HNAB) and Energy Partners Ltd (EPL).
Bearish
Travelzoo Inc (TZOO), Tanzanian Royalty Exploration (TRE), Moody’s Corporation (MCO), Covad Communications Group Inc (DVW) and International Securities Exchange (ISE)

With Aetna Inc (AET) imploding there was bound to be a pin effect in the insurers and HMOs. Everything usually bounces back after the selling occurs but there is always one stock that gets left behind and that stock was HealthSpring Inc (HS). This stock has nobody on its side since it went public in February, lowered guidance and became despised by Wall Street. HS is a Medicare HMO taking people in areas around the country that are on Medicare and making HMO type groups with them. Over the next 10 years Medicare spending should keep escalating. The initial trouble surrounding this company is in the past and they seem to be very good at what they do. The thing that killed AET was the medical loss ratio which is the percentage of premiums that a company actually needs to spend on medical costs, and HS has this ratio at 79% which all competitors wish they had.

Indonesia is the Number 1 coal exporter making it more and more the country providing essential commodities. Oil and gold are abundant here. A hot spot is The Indonesia Fund (IF), everyone wants in here. This fund is trading at a 46% premium to its assets which shows Cramer that the fund is worth more than the stocks that comprise it. To play off of the growth in Indonesia look at Perusahaan PT Telekomuniskasi Indonesia (TLK). With 71% gross margins, Cramer sees them as a semi-government monopoly. As the government grows they should grow. In underdeveloped countries phone lines and the Internet are where you should invest. A fast growing stock in a hot economy that pays a nice dividend, Cramer asks, “What is not to like?”

Cramer has been called a joker and an idiot when it comes to companies like Gehl Company (GEHL) but today he had NuVasive Inc (NASDAQ:NUVA) Chairman of the Board and Chief Executive Officer, Alexis V Lukianov on the phone. They just reported a great quarter and are planning the release of 8 to 10 new products this year all of which are spinals that Cramer loves. NUVA is not giving huge promises on what they will do this year the CEO seemed to be of Cramers mindset, “underpromise and overdeliver.” Their fundamentals haven’t changed, they are doing things as they always have. This is a small cap company that was getting bad coverage and the media set them up to fail, Cramer sees Lukianov succeeding and loves NUVA.

If you can find a stock that is nearing its 52-week high when the sector is getting killed overall, you should look more closely at that company. Today Cramer brings us West Pharmaceutical Services Inc (WST) which is a pharmaceutical stock that is bucking the trend in the health care sector. WST is the top drug packaging and delivery company along with the leader in making tamper proof containers which is a hugely profitable business. Tamper proofing became big when Tylenol started having a problem with poison getting into their containers in the 1980’s. This company has a new angle that Cramer sees making money in the future and that trend deals with a company talked about yesterday. Nektar Therapeutics (NASDAQ:NKTR) was profiled yesterday and their insulin inhaler was discussed, well WST will be making those inhalers. WST beat numbers easily even with no coverage. Underfollowed usually means undervalued also. Cramer sees the stock going higher even at its 52-week high and he calls for a ” ‘mon back.”

Cramer had bullish things to say about bank stocks today. The yield curve is normalizing and investors are starting to warm up to the sector. He thinks that stocks like Goldman Sachs Group Inc (GS), Lehman Brothers Holdings (LEH) and Bear Sterns (BSC) seem tired here and investors who want to play the yield curve are going into Wells Fargo (WFC) and JPMorgan Chase Co (JPM). Cramer thinks these stocks can play catch-up and the companies are doing big share buybacks. Cramer has noticed a pattern in the markets where companies are reporting great quarters, selling off hard, then finding some bids and bouncing back. He noticed this action in Allegheny Technologies Inc (ATI) and Valero Energy Corp (VLO) and he thinks this same pattern could happen in Cummins Inc (NYSE:CMI). Cramer made bearish comments on Microsoft (MSFT) saying that the drop was justified. Vista is a year away and that leaves investors with little reason to buy the stock now.

Video Game and System Plays
Cramer was out making comments about Nintendo’s soon to launch next-generation gaming system and Sony Corp’s (SNE) PlayStation. He also made the claim that the personal computer is dead and not made to handle the new games coming out. Cramer told investors to get out of Microsoft (MSFT), Intel Corp (INTC), and Dell Inc (DELL). He owns (MSFT) for his trust. He thinks the growth is going to cell phones and game systems and a way to play the video game growth is through Electronic Arts Inc (ERTS) and GameStop Corp (GME). He also likes Marvell (MRVL), Rambus Inc (RMBS), ATI Technologies Inc (ATI), Microchip Technology (MCHP), and Trident Microsystems (NASDAQ:TRID).

Management Plays
Cramer recommended investors look at the quality of a company’s management when making investment decisions. He thinks looking at the bloodline is a good way to evaluate management. He game the example of Newell Rubbermaid (NWL) and how they brought in Mark Ketchum as CEO. Ketchum previously worked for Procter & Gamble (PG) and he did a awesome job for that company. The stock if (NWL) went up four points once the news came out he took over the CEO job. Cramer owns both stocks for his charitable trust. NCR Corporations (NCR) hired a CEO who was a bad manager at Symbol Technologies (SBL). Cramer stated that if bad management comes in you may need to sell.

Homers
Home gamers were calling in with questions about stocks and Cramer gave out his opinions on the following:

• Starbucks (SBUX) A caller wanted to know if it’s time to ring the register. With the stock up 54% Cramer isn’t saying get out yet. Cramer thinks it could catch a double, but he said he is always worried about investors holding stocks too long after the tech bubble disaster.
• Advanced Micro Devices Inc (AMD) Cramer thinks the stock could see $40 from $32 and he would get out of Intel Corp (INTC) and buy (AMD). Cramer thinks the AMD run might not happen this summer with the delays from Vista.
• Conexant Systems (CNXT) Now is the time to buy. Cramer mentioned how the stock fell as he predicted after earnings and now is the time to be an aggressive buyer. He also thinks it may not be done going down, so put one-quarter of your position on now and then the remaining three quarters every time the stock falls a dime.
• IBM (IBM) Cramer said sell IBM and buy Network Appliance Inc (NTAP) which he owns in his trust.
• Cramer thinks there is money to be made in companies that supply titanium for planes and his pick is Allegheny Technologies Inc (ATI) not Titanium Metals (TIE) or RTI International Metals (NYSE:RTI). Cramer thinks ATI is a best of breed long-term buy. The stock was hit after earnings and now it is cheaper and a opportunity.
• Cummins Inc (NYSE:CMI) The stock went up very nice after a good earnings report and then was hit by profit taking. Cramer said buy Monday.
• Whole Foods Market Inc (WFMI) Cramer needs to see a great quarter before he can bless buying the stock again. The last two quarters weren’t great.

Bullish
Weight Watchers International (WTW), Devon Energy Corp (DVN), Caterpillar Inc (CAT), Nokia (NOK), Sealy Corporation (ZZ) and Penn National Gaming Inc (PENN).
Bearish
Sirius Satellite Radio (SIRI), NutriSystem Inc (NTRI), Xerox Corporation (XRX), Novell (NOVL), Suntech Power Holdings Co Ltd (STP), Albany International Corp (AIN), Motorola (MOT), Bausch & Lomb Inc (BOL) and Pinnacle Entertainment (PNK)

Chief executive Dr. William McGuire from UnitedHealth Group Inc (UNH) joined Cramer. UNH and other companies are being investigated by the Securities and Exchange Commission. Cramer wondered if UNH and WellPoint Inc (WLP) are suffering like Aetna Inc (AET) due to cost problems. McGuire only speaking for UNH feels that they are actually ahead of projections. The investigation couldn’t be discussed. Stock options are reflective of the performance of the company and the company is doing huge business since McGuire came on. Cramer asked if McGuire would be willing to give back shares to help the company and McGuire felt it was “impossible” to answer.