Reliance Steel (RS), U.S. Steel (X), Lone Star (LSS): Cramer suggests buying RS which was up 3% on the deal between X and LSS, but is still "the cheapest that's left" in the consolidation-driven steel sector. Concerning the acquisition of LSS, Cramer said "What a deal!"
GlobalSantaFe (GSF): Cramer thinks a "monster seller" is doing investors a favor by giving them an opportunity to buy GSF, which Cramer thinks may be a takeover or merger targetfor Seadrill.
Tata Motors (TTM), Frozen Food Express (FFEX), RadioShack (RSH): Cramer likes TTM as a secular growth story and doesn't think it will be affected by India's overheated economy. Cramer is looking into FFEX because of Bob Olstein's recommendation; "This guy, you've got to take down everything he says. That's how great he is." Cramer also likes RSH.
Seeking Alpha publishes a summary of Jim Cramer's stock picks every day including: Mad Money Recap, Lightning Round, Stop Trading and Wall Street Confidential Picks.
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