Oil Aboard: BP (BP), Tesoro (TSO), Cheniere Energy (LNG), Alon USA Energy (ALJ) and Valero Energy (VLO) - Cramer notes that "bad" news for oil causes it to go way up and stay there, even when the catalyst disappears. BP's closure of an Alaskan oil field was tough for TSO, although the stock jumped, and Cramer would sell it here. "The nation's energy policy is a complete mess," comments Cramer, who doesn't see a potential rescue from the Strategic Petroleum Reserve, and notes that there isn't much offshore drilling going on. Some people tout liquified natural gas, and Cramer notes that if these terminals finally get built, LNG is the choice. Cramer says that ALJ and VLO are good buys to get revenge at the pump. In spite of the fact that many analysts claim that oil will go down, Cramer does not see it happening. "Own an oil stock," he says.
Match Made in Heaven: Google (GOOG), News Corp (NWS), Facebook, Bausch and Lomb (BOL) - Google will be managing searches and ads for News Corp's acquisition, MySpace.com, and secured the deal by guaranteeing NWS $900 million in ad revenue for four years. Cramer praised the NWS acquisition of MySpace.com from the beginning, and adds that Facebook also has a good potential. Cramer says that NWS is a buy right now, even though it isn't down, insisting that homework is sometimes more important than current price, and gives Bauch and Lomb (BOL) as an example of the opposite case in which a stock is low but dangerous because it released a substandard product.
Qualcomm (QCOM): Cramer likes QCOM as a long-term play, because even though the stock is suffering, the company is solid.
ABB (ABB): Cramer recommends picking up ABB because it is among the cheapest infrastructure stocks and should reach its high in six months.
Apple (AAPL): This is one of Cramer's favorite tech stocks, because he believes that it has momentum.
Hansen Natural (HANS): "Any time a company reports an in-line number when everyone is looking for something much more than that, you get this unbelievable type of free fall," Cramer says, declaring that HANS is finished and should be sold every time there is a rally.
Advanced Micro Devices (AMD): Cramer likes this company, and it would otherwise be a good buy, but the price war with Intel (INTC) is tying AMD down.
Abercrombie & Fitch (ANF): Cramer says that this stock is cheap, but teen retail is very competitive right now, and he would wait on this stock.
More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.
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