Theme today is in this statement from Cramer, “What are people betting against the market thinking?” Bears cling to a number of things including: 2 terrorist regimes in the Middle East, rising oil prices, socialists in South America, and all of this coupled with Bush ruining just about everything he touches. Cramer thinks the stock market is going higher because if the Bears couldn’t smash the market with all of these things going on they won’t until the market goes higher. The possible bad things that could hurt stocks would be: Google (GOOG) having a bad quarter, Altria (MO) receiving a negative verdict, or Boeing (BA) has poor earnings. Cramer sees none of these things happening and a lot of bad things have happened which has not hurt the buying of stocks, so even if these things do happen don’t worry. Cramer asked if you had enough “oil and oil related stocks” to keep your focus. Bullish on these drillers for your focus Schlumberger (SLB), GlobalSantaFe (GSF) and Halliburton (HAL).
Lenny Dykstra joined the program today. Lenny explained that “he buys calls rather than stock because purchasing control of the shares gives him exposure to quality stocks for a lot less money.” The stocks discussed today were:
Bank of America (BAC) - Dykstra is buying deep in the money calls because it gives him limited risk with a possible nice reward.
Dow Chemicals (DOW) - Used as an example of selling into strength. He bought at $7.40 and sold at $9 the next day. He got back his money then got money to reinvest into the market.
Dell (DELL) - Admitted he missed the boat on DELL after recommending it in the morning. Moving on now for a better deal.

A caller asked about a chart in Cramers book that shows economic cycles which help investors pick a spot to put their money. Cramer explained that right now we are in a trough due to a number of reasons, most importantly the fourth-quarter GDP numbers. A good play on the chart is Accredited Home Lenders (LEND). Deutsche Bank (DB) just took a 7% stake in the stock making it look all the better.
Look at Gardner Denver (GDI) due to the lack of competition in the compressor and blower business.
Buy MO before earnings. Lawsuit settled for the better could mean MO flys.
Money moving out of real estate could mean more business for E*Trade (ET) and Ameritrade (AMTD).
SigmaTel (SGTL) was not praised by Cramer. He recommended instead Marvell Tech (MRVL) and Broadcom (BRCM). Both gave buying opportunities today because both were down.
Conexant (CNXT) is a company Cramer likes but he thinks the company may be done running up for now.
Empire Resources (ERS) is not to be chased higher.
Apple (AAPL) was the last stock talked about today. Cramer said the “selling is overdone.”