Cramer was bullish on MEMC Electronic Materials (WFR), Cypress Semi (CY), and Evergreen Solar (ESLR) as plays on polysilcon shortage. Cramer believes the downside is priced into WFR. Cramer expects Cypress to spin off its Sun Power solar business in the next two to three months. However, Sun Power is a high-risk, high-return situation, he said. Cramer made a comment that ESLR is growing faster then Google (GOOG) and it deserves a higher multiple. Cramer believes that Evergreen’s stock could double. However, he cautioned that Evergreen’s stock is very volatile and that it could take a beating when it announces quarterly results Friday even if the numbers are good. Cramer was asked about the PowerShares WilderHill Clean Energy (PBW) exchange-traded fund. Cramer is not a fan because the ETF’s largest holding is Capstone Turbine (CPST).

After a period where real estate has greatly outperformed stocks, people are starting to recognize perhaps that stocks have been overlooked, said Jim Cramer Monday on his radio show. Cramer thinks investors are starting to come back to the stock market, but he still feels that people are fearful of Wall Street. Cramer made some comments about how investors don’t want tools from online brokers. “There are no tools that will tell you what to do,” said Cramer. If there were, “I would have bought them whether they were from Home Depot (HD) or blank brokerage house.” Cramer thinks that the electronic brokerage industry is to scared to offer advice, but he believes that people would accept it if there is accountability.

Len Dykstra joined Cramer today on the radio show. He was bullish on Jacobs Engineering (JEC), and Agrium (AGU). Cramer thought both stocks were interesting.

Question Response

Allscripts Healthcare Solutions (MDRX) Cramer would be a buyer

EnCana (ECA) “too hard”

Apple Computer (AAPL) insiders are selling to not be hogs

Caterpillar (CAT), American Express (AXP), JP Morgan (JPM), and Honeywell (HON) interesting insider buying

Cramer likes Texas Instruments (TXN), National Semiconductor (NSM), Broadcom (BRCM), Intel (INTC), and Microsoft (MSFT) for his tech rally thesis over Tech ETFs.. Cramer was bearish on Dell (DELL), Sun Micro (SUNW), Oracle (ORCL), KLA-Tencor (KLAC), and Applied Materials (AMAT).

Cramer was bullish on United Tech (UTX) and thinks investors should buy the stock after the great quarter.

Cramer said to sell CVS (CVS) and buy Walgreen (WAG).

Finally, Chesapeake Energy (CHK) reports earnings Monday afternoon. Cramer said CHK has a history of wild gyrations when it reports. So, wait to understand the quarter before acting. The market is doing a lot of irrational things right now, said Cramer. Often stocks have been selling off immediately despite good earnings and strong outlooks, only to recover – and then some – in the days that follow, he said.

Bullish
Costco Wholesale (COST), Procter & Gamble (PG), Intel (INTC), National Semiconductor (NSM), Broadcom (BRCM), Best Buy (BBY), Lexar Media (LEXR), Wellman (WLM), Syneron Medical (ELOS), IntraLase (ILSE), OraSure Technologies (OSUR), Southwest Gas (SWX), PNM Resources (PNM), Valero Energy (VLO), Yellow Roadway (YELL), Intuitive Surgical (ISRG) and TurboChef Technologies (OVEN).
Bearish
Energizer Holdings (ENR), California Micro Devices (CAMD), Southwest Airlines (LUV), Blackboard (BBBB), Shaw Group (SGR), Audible (ADBL), Sigma Designs (SIGM), Unisys (UIS), PolyOne (POL), Mesa Air Group (MESA), Cutera (CUTR), Olin (OLN), Georgia Gulf (GGC), Lawson Software (LWSN), Cosi (COSI), CSX (CSX) and Schnitzer Steel Industries (SCHN).

Cramer is bullish on Qualcomm (QCOM). The stock was hammered on Friday dropping 4.6% on news that some customers and competitors are suing QCOM for charging too much money for licenses to use its technology. Cramer thinks the stock was hit hard because investors feared QCOM could end up like Research In Motion (RIMM), which could lose a patent case to NTP. Cramer believes the odds are good Qualcomm will prevail. Even if it doesn’t, the worst-case scenario for Qualcomm, he said, is that Qualcomm might have to charge less for its technology licenses and pay damages, he said. It is not in danger of losing its patents, he said.

Herb Greenberg joined Cramer to talk about a few stocks in the East vs West segment. The first stock they discussed was LeapFrog (LF). Greenberg said LeapFrog’s sales missed estimates, and the quality of its earnings were suspect. “Earnings were good because expenses were deferred. Expenses were cut,” he said. “This is a company that’s really basing the future on this Fly pen,” said Greenberg. Cramer indicated he believes the product will be a success. Greenberg said if the Fly Pentop computer is a success, he will come on the show and “eat crow.”"You better bring some salt … and Tabasco,” said Cramer. Cramer asked Greenberg about Overstock.com (OSTK), which announced third-quarter earnings Friday.Greenberg said Overstock’s earnings were “crummy.” If Patrick Byrne would have spent more time running his business rather than running his mouth, maybe his company would be doing better.”If results were so bad, why didn’t the stock go down Friday? asked Cramer. Greenberg said he didn’t know. Cramer commented that Overstock.com’s new chairman, Jack Byrne, father of Overstock.com CEO Patrick Byrne, is well-regarded in the insurance industry. Greenberg said if Jack Byrne wasn’t involved with Overstock.com, he believes the stock “would be a fraction of where it is today.” “I like that,” said Cramer, while pushing the bear button. Cramer and Greenberg also tangled over another stock, Johnson Controls (JCI). “What’s the story there? How could you not love that quarter?” asked Cramer. Greenberg said Johnson Controls is very hard to analyze, and it is still mostly a cyclical, highly-levered auto-parts company. He said even York International (YRK), which is being acquired by Johnson Controls, mentioned recently “how cyclical part of its business is. JCI may rise or fall based on just because it is so hard to get your arms around. That to me is a huge red flag. “Cramer said he believes JCI is better than rivals Delphi (DPHIQ) or Dana (DCN) because “by making it difficult to understand, JCI has lost that Detroit component that’s been dragging it down. “Finally, Cramer asked Greenberg about Amylin Pharmaceuticals (AMLN). Greenberg was bullish on Amylin recently when the stock was at $39, said Cramer. Cramer had advised people to “ring the register.” The stock closed at $33.52 Friday. “Jim, you were right on JCI. I will be right on Amylin, and in the end, I will be right on JCI,” said Greenberg.