Jim Cramer's Mad Money In-Depth Stock Picks, 8/6/07

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Monday August 6.

The Unsinkable Jolly Dow

Cramer said the Dow rise of 280 points was "recognition... that maybe something could go right," amid the crisis in housing with "terrible" pin action in other sectors. He added the government can be part of the problem or part of the solution and reiterated his hope Fed Chairman Ben Bernanke will cut interest rates. If the Fed doesn't reduce rates, Cramer says a few other solutions may alleviate the problem somewhat, especially if Treasury Secretary Henry Paulson makes refinancing easier, institutions like Morgan Stanley report a clean bill of health, the Chinese take a major stake in a mortgage company, or if William Buffett rescues a troubled lender. Otherwise, 7 million people could lose their homes and mortgage institutions will have to merge in order to survive.

Allergan (AGN): "The Costco of Better-Looking Body Parts"

"Even if 7 million people lose their homes, they'll still want to look good," Cramer said, and reiterated his well-known theory that the wheels of Capitalism are greased by the desire for wrinkle-free skin. As bullish Cramer has been on AGN, he says the stock is bigger than he imagined, with a 24% increase in Botox sales, making AGN the most rapid-growing eye company in the world. AGN should rise on the FDA's approval of the use of silicon for breast implants and the company should have a "hammer lock" on the business, according to Cramer. AGN also produces a lap band, which crimps the stomach and facilitates weight loss. Even if there will be widespread misery, Cramer still believes AGN is destined to go higher.

Related: Dan Pritch takes another look at Allergan.

CEO Interview:Curtis Anastasi, NuStar GP Holdings (NSH)

Anastasio blames weakness in the energy sector for the company's lackluster performance, and says bearishness on the stock is undeserved, since NSH is a "toll taker," does not buy or sell oil directly and is not exposed to high prices. Cramer thanked Anastasio for clarifying NSH's situation, and remarked to viewers," Don't throw everything away."

Seeking Alpha publishes a summary of Jim Cramer's stock picks every day including: Mad Money Recap, Lightning Round, Stop Trading and his Wall Street Confidential Picks.

Get Cramer's Picks by e-mail -- it's free and takes only a few seconds to sign up.

Seeking Alpha is not affiliated with Jim Cramer, CNBC or TheStreet.com