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Recap of Jim Cramer's radio show on Friday November 17. Click on a stock ticker for more analysis:

NYSE (NYSE:NYX) and Nymex (NMX) - Cramer described the "frenzy" at the NYSE when NMX opened at $138, more than twice its expected price of $50: "If you're not in the game, you're never going to make these types of gains," Cramer said. He doesn't think that the NMX is "nuts" for opening at such a high price since, unlike the NYSE in the case of Euronext, it is unlikely to make an acquisition that will knock it down. Nymex has more demand than was reflected in the original price according to Cramer, who says that if he wanted to buy 500 shares, he would pick up 125 now and 125 in a week regardless of how NMX is trading. He would then pick up more every time the stock dropped 10 points. However, Cramer also thinks NMX is too high and NYSE is too low: "The NYSE is worth $250, but now it is at $95."

Related: Richard Shaw asks: Did Nymex's IPO issuers leave $34 million on the table?

Home Depot (NYSE:HD) and Lowe's (NYSE:LOW) - Home Depot's "gigantic dividend boost" is a sign of the company's confidence, but Cramer would not buy HD because it has dismissed "knowledgeable help" in favor of part-time employees and is making acquisitions that develop the homebuilding contractor business. Cramer prefers Lowe's, even though HD might improve in six months.

Related: Yasar Anwar makes the bullish case for Home Depot.

Housing's Quiet Boom with Sears (NASDAQ:SHLD) and Starbucks (NASDAQ:SBUX)

The media has been trying to keep people out of the housing boom, comments Cramer, who says that the number of for-sale signs is no indication of stock performance. If reporters are concerned about prices exceeding fundamentals, they should take a look at Sears (SHLD) and Starbucks (SBUX) which are doing well in spite of worries about the high prices of these stocks, according to Cramer who believes that the housing sector is actually undervalued.

The Bubble Illusion and Hertz (NYSE:HTZ) - Commenting on large companies and private-equity funds, Cramer says "the bubble in private equity isn't really a bubble yet." Although a "plethora of deals at high interest rates" would make a bubble, the current deals are occuring at low rates, as is the case with Hertz, and Cramer added, "the fact that Hertz was able to pay a dividend to the firm that bought it and come public says it is way too early to fret." He suggests looking at how good the stocks are and start worrying when rates go too high.

Bullish calls:

FedEx (NYSE:FDX): Cramer thinks that FDX could go from $117 to $140.
Toyota Motor (NYSE:TM): The winner in the world-class car division," Cramer commented: "I would make a big bet on it, even at $122."
Sirius Satellite Radio (NASDAQ:SIRI): SIRI has a "great product," has been beating its numbers and should go to $6 from $4.07.
XM Satellite Radio (XMSR): Cramer notes that this company also reported a good quarter.

Neutral/Bearish calls:

Bristol-Myers Squibb (NYSE:BMY): Cramer worries that the new generic Plavix may hurt BMY and that the company's management is "too dicey." He would sell.
Panera Bread (NASDAQ:PNRA): Cramer would stop buying PNRA until it boosts same-store sales.

More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.

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Source: Jim Cramer's Real Money Radio Recap, Nov. 17