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 Stocks discussed on Cramer' Mad Money program, Thursday November 12.

Technical Difficulties: Intel (NASDAQ:INTC), Cisco (NASDAQ:CSCO), Dell (NASDAQ:DELL), Microsoft (NASDAQ:MSFT), Oracle (NYSE:ORCL)

Cramer urged viewers not to be fooled by the tech rally since the recession has only just begun. The 553 point rally in the Dow was not a good enough reason to buy tech when investors should have been selling. With Intel slashing its forecasts going into the holiday seasons, there is no reason to think tech will be strong. Cisco also has made bearish comments and Cramer thinks more downgrades for the sector are on the cards. A bottom will form only when all analysts are negative on tech and when the market starts to turn around. Cramer reminded viewers that tech was hit hard in the last recession: Intel fell 82%, Dell by 71%, Microsoft by 66%, and Oracle by 84%.

CEO Interview: Randall Stephenson, AT&T (NYSE:T), DirecTV (NASDAQ:DTV)

While the tech is bad, wireless is hot, particularly AT&T which sold 2. 4 million wireless devices in the last quarter. Apple has been good to AT&T; although it is more expensive to acquire an iPhone subscriber, they generate double the revenue of a regular subscriber. While voice minutes are fewer in troubled economic times, AT&T ‘s databusiness still sees 30% to 40% growth year-over-year. In addition, the company added 230,000 new subscribers to its U-verse videos and has a successful partnership with DirecTV. Cramer said AT&T is the kind of stock you buy on down days.

Lincoln National (NYSE:LNC), Hartford (NYSE:HIG), Principal Financial  (NYSE:PFG), Prudential (NYSE:PRU)

Cramer said Goldman Sachs’ report on insurance companies Lincoln National, Hartford, Prudential and Principal indicated how troubled the sector is. These companies lost on their real estate deals and are now scrambling to raise capital in a down market. Obama’s plan to allow an early withdrawal of up to $10,000 from IRA’s and 401(k)s might complicate the problem.

Mad Mail: General Motors (NYSE:GM), Ford (NYSE:F), AIG (NYSE:AIG), Freddie Mac (FRE) and Fannie Mae (FNM), Enersys (NYSE:ENS), Sun Microsystems (SUNW)

Cramer would not consider broken companies such as GM, F, AIG, Freddie Mac and Fannie Mae as good investments even in the long term. While Enersys’ fundamentals are not bad, the company is caught in a “hedge fund buzzsaw.” When a viewer asked about Sunpower, Cramer said he would only consider companies trading near their cash values and making profits.

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Source: Cramer's Mad Money- Technical Difficulties (11/12/08)