Wells Fargo (WFC): Cramer says that concerns about WFC's subprime lending business are exaggerated, especially since the bank is well-managed and the loan loss "reserves haven't been tapped as much as you'd think." He comments that those who are shorting WFC will be disappointed if the stock doubles after an interest rate cut.
Akmai (AKAM) and Cisco (CSCO): This stock, which Cramer calls "the gold standard of high growth," reminds him of Cisco when it first went public in the early 90s because Cisco was also 10 year growth story with no competition.
Allegiant (ALGT): Although he notes that airlines have not been doing well until recently, Cramer says that he likes the IPO at $6 and thinks that it could go up another $6 with no problems. He also notes that it is another way to play the Vegas, since it has direct flights to the popular city.
Level 3 (LVLT), Cal Dive (DVR), Devon (DVN): Cramer warns investors against buying LVLT just because it made the Nasdaq 100, and moving on to oil, Cramer says that he thinks that DVR is going to be a strong oil service play, and notes that the sector is doing well, although DVN is a bit pricey.
Seeking Alpha publishes a summary of Jim Cramer's stock picks every day including: Mad Money Recap, Lightening Round, Stop Trading and his Market Minute.
Get Cramer's Picks by email -- it's free and takes only a few seconds to sign up.
Seeking Alpha is not affiliated with CNBC, Jim Cramer or TheStreet.com