Cramer suggests picking up LOW's since it has bottomed and has figured this out by "doing homework." First SWK, a supplier to Lowe's, reported excess inventory while BDK said the opposite. MAS and ASD also commented that business was slowing down, but while housing seems to be in a slump, FO said that remodeling is stable, and since LOW's market is mainly repairs and remodeling, Cramer thinks that LOW is on its way up. He adds that the strength in casual dining demonstrates consumer confidence.
Observing that "people will always pay up for their vanity," Cramer suggests holding onto PMTI which has increased since its earnings report, and adds that while those who bought it below $40 should sell some, "the best is yet to come" for PMTI. The company has recently made a deal with JNJ and Gillette to manufacture home lasers, however the shorts don't think the FDA will give its seal of approval. Cramer disagrees, and adds that even if the deal doesn't go through, the stock is still a buy since Palomer excels in products and patents and sells at just 30 times forward earnings.
Related: Saul Sterman discusses Palomar's patent lawsuits.
Picks for the Coming Week: Deckers Outdoor (DECK), SPDR Pharmaceuticals (XPH), Sun Power (SPWR), Evergreen Solar (ESLR), FLIR Systems (FLIR), Essex (KEYW), NICE Systems (NICE), L-3 Communications (LLL) and Raytheon (RTN)
Cramer suggests taking DECK off the table and adds that, since many think the Democrats are going to win, investors should sell XPH because the party wants to cut drug prices. "If you own a big drug stock, big defense contractor or big oil stock, you should sell them this Monday and buy them back next Monday, as they will be beaten down by then," he said. Since the Democrats tend to like alternative energy, Cramer suggests looking at SPWR and ESLR. Both parties are interested in security, and FLIR,KEYW, and NICE Systems are buys as well as LLL and RTN.
Related: James Fraser discusses Evergreen Solar's progress in the marketplace.
Cramer admitted that it was a mistake to have been bearish on PFCB before its 4 point rise, and added that he was taking a long-term view of the stock. He told another viewer CROX is expanding and "the bears have been wrong and will stay wrong on this stock," he said
More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.
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