Jim Cramer's Mad Money In-Depth Stock Picks, March 15

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Thursday March 15. Click on a stock ticker for more analysis:

A Second Look at Cigna (CI)

Although Cramer has not liked Cigna in the past, he is taking another look at the non-pharma health care company because of its serious buyback plan. "Nothing is more reassuring than a company that believes in itself," said Cramer, noting that Cigna bought back 20% of the company since 2004 and is shrinking its number of shares so rapidly, it is "practically going private." Cramer declared, "The single biggest bull market is in the nonpharmaceutical health care sector," and he would buy Cigna.

Related: Lon Juricic reports Carl Icahn lowered his stake in CI.

Volcano (VOLC), Boston Scientific (BSX), Johnson & Johnson (JNJ), and General Electric (GE)

A great way to play fears over drug-coated stents is to buy Volcano, a company that makes intravascular ultrasound catheters which examine the inside of arteries, according to Cramer. Although this technology is not new, it has been underused until the recent stent controversy. Volcano's largest rival is BSX, which Cramer calls "the Citigroup of healthcare" and Volcano has partnerships with JNJ and GE.

Related: H.S. Ayoub discusses new troubles with the " improved" stents.

Beware of Tech: Oracle (ORCL), Microsoft (MSFT), EMC (EMC), SanDisk (SNDK), Seagate (STX), Western Digital (WDC), Komag (KOMG), IBM (IBM), Micron's (MU), Texas Instruments (TXN), Intel (INTC), Advanced Micro Devices (AMD), Garmin (GRMN), Qualcomm (QCOM), Cisco (CSCO), Hewlett-Packard (HPQ), eBay (EBAY), Apple (AAPL), Yahoo! (YHOO) and IAC/InterActive (IACI)

Cramer devoted his Sell Block segment to warning investors not to touch tech until summer, with a few notable exceptions. "Don't be bamboozled by hopeful analysts," he said, and added ORCL, MSFT, EMC, SNDK, STX, WDC, and KOMG are not buys right now. Cramer said IBM should not be bought until it has some "breakthrough earnings releases" and urged investors to ignore MU's upgrade and to avoid TXN, INTC and AMD. However, the few tech stocks worth buying now include GRMN, QCOM, CSCO and HPQ, EBAY, AAPL and YHOO. Cramer is removing IACI from his list of buys.

CEO Interview: David Snow, Medco Health Solutions (MHS)

When Cramer asked David Snow how his company makes money off of drugs that go generic, he replied, "In the case of generics, $50 billion of branded drugs are going off patent between now and 2011. We are going to work very hard to appropriately move people from branded drugs to generic drugs, and we make money doing that." On the topic of Medco's cash flow, David Snow said the %5.5 billion buyback program is up and running, and the company might make a future acquisition. Cramer said Medco is the definition of a buy in the current environment.

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