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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Wednesday November 9.

Answering the Twitics: Neftlix (NASDAQ:NFLX), U.S. Steel (NYSE:X)

While tweeting about his favorite stocks, Cramer received a complaint from a "Twitic" who asked how Cramer could say Netflix (NFLX) is undervalued when it has a larger market cap than U.S. Steel (X). The quick answer: The stock deserves to have a larger market cap than U.S. Steel, because Neftlix keeps growing by leaps and bounds while U.S. Steel is virtually stagnant.

U.S. Steel, while it is a legendary company and a symbol for the entire Steel industry, is beset with liabilities and debt. The company doesn't deliver on earnings and has very low growth. Netflix's balance sheet is clean and the growth momentum is strong. While Netflix trades at twice its growth rate, a level too rich for Cramer, at least its multiple is comprehensible. U.S. Steel's multiple is very difficult to figure out, which is not helped by the fact that its earnings are shrinking. While there are worries about Netflix facing competition, at least it is not a cyclical play like U.S. Steel, which depends on the strength of the economy. While hard assets might seem more secure at first blush, the fact is that "hard assets don't matter so much anymore," said Cramer.

The bottom line? Netflix deserves to have a larger market cap and is a better and cheaper stock than X.

Bernanke Is the Only Grown-up

"Why do people think everything is fine and Ben Bernake panicking?" asked Cramer. "This is an economy that will be Japan if we won't get it moving again. The only grown-up in the whole system is Ben Bernanke." Cramer praised the Fed Chairman for saving the U.S. from the fate of Japan's Lost Decade with policies that keep interest rates low and stimulate the economy. "It is time to applaud Ben Bernanke."

The Expanded Dow Theory: XRT (NYSEARCA:XRT), XLF (NYSEARCA:XLF)

With stocks reversing dramatically on Tuesday, is it time to wait on the sidelines or buy? Cramer and technician Dan Fitzpatrick have concluded that the selloff is a reason to buy. The traditional rule, or the Dow Theory, states that if the Dow Jones Industrial Average and the Dow Jones Transportation Average are both up, a rally has legs. If only one rallies, there is reason to be suspicious.

The Dow theory has been reliable, but it is a century old, and there needs to be a new rule to reflect the modern economy. Fitzpatrick and Cramer came up with the "Expanded Dow Theory" to include tech, retail and banking. The Nasdaq, a tell for tech, is strong, the ETF XRT (XRT), usually a good proxy for retail has just begun to rally hard. There might be a reason to be concerned if the ETF pulls back without a prompt recovery, but retail looks good going into the holiday season. The weakest link are the banks, but even the ETF XLF (XLF) crossed over its 200 day moving average and created a new floor.

The conclusion? Aside from some worry about the banks, the economy is in "fantastic" shape and it is time to take advantage of declines to buy.

Motricity (MOTR), Commscope (CTV), Google (NASDAQ:GOOG)

Cramer has been "banging the smartphone drum for a long time;" his mobile internet index is up 46% since last year, growing at double the rate of the S&P 500 for the same period. However, every good index sometimes needs adjustment, and he needs to replace Commscope (CTV), which is being taken private, with another mobile internet stock.

All areas connected to the mobile internet have been growing, with the exception of infrastructure names. One group that the index has very little exposure to is software and content; for that, the only holding is Google (GOOG). Cramer decided it was time to remedy this imbalance by adding Motricity (MOTR).

Cramer warned his viewers eight times not to buy the stock until it has pulled back, but he is bullish on this provider of data platforms. Motricity makes it possible to deliver internet to non-smart phones and aggregate social networking. The company has 80% market share and is growing in the U.S. and abroad, but up 72% in just three weeks, the stock is too hot to handle right now. He would buy it down 5-10%.

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Source: Cramer's Mad Money - Why Netflix Is Bigger Than U.S. Steel (11/9/10)