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Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Friday October 26. Click on a stock ticker for more analysis:

Skechers (NYSE:SKX)

Although retail is hurting, one segment of retail that "can really buck the trend is footwear," Cramer predicts Skechers may be the next Deckers or Crocs. The company topped its earnings estimates by 9 cents a share and reported strong same store sales. SKX performed well in the U.S. and saw a gain of 36% in international sales with a triple-digit rise in the United Kingdom. However, with its low guidance and volatile past performance, Cramer cautions SKX is a speculative play, but adds; "We're looking for bad stocks that may have turned the corner and become good." The stock is priced at 24 times next year's forward earnings and its growth rate surpasses its price.

Special Guest: Republican Presidential candidate Mitt Romney

Cramer called Mitt Romney one of the three top businessmen in the country and asked how he distinguished himself from President Bush. Romney pointed out that while Bush considered himself the "CEO President" he has failed to deliver, and with Romney's business background as well as his experience running the Olympic Games and the State of Massachusetts, he commented "If you're going to run something, it's helpful to have run something before." Romney added he is less concerned about the stock market's instability in recent years than about government overspending and excessive dependence on oil, and he would like to see the U.S. develop other resources, such as nuclear power. "If we get on a track to become energy efficient ... that's going to have an impact on the prices of oil."

Concerning the housing crisis, Romney says part of the blame lies at the feet of the government which failed to protect people from bad mortgages and said loans should not be reset. He says that China has been playing trade games by pegging their currency to the dollar and violating intellectual property rights. Although Romney is reluctant to enact tariffs; "we need to see progress or get tougher," he said. Finally, Romney expressed reluctance to introduce new taxes and said the entrepreneurial spirit of the American people will lead to economic growth without dependence on more taxes for government revenue.

Fed-Cut Game Plan: Annaly (NYSE:NLY), FMC Technologies (NYSE:FTI) and Transocean (NYSE:RIG)

Cramer picked stocks which would fit well with a potential rate cut by the Fed. He would buy half a position in these stocks ahead of the Fed meeting on Wednesday, and half after what he expects what might be another half-point cut. Cramer says NLY is one of the few stocks which can actually profit from housing crisis and suggested viewers read CEO Mike Farrell's report on the company web site. NLY has low risk of defaults because it owns mainly government paper. He also recommended FTI and RIG which is "biding its time" has the advantage of not being levered to the domestic market. RIG is on the verge of merging with Global Santa Fe which will result in a $33 dividend.

Related: Patrick Harden is not excited about NLY's secondary offering.

Mad Mail: Las Vegas Sands (NYSE:LVS), Wynn (NASDAQ:WYNN)

When a viewer asked Cramer why he preferred LVS over WYNN, he responded Wynn has a 96 P/E and LVS has a 103 P/E. He called the CEO Steven Wynn and Sheldon Adelson, "two of the best businessmen in the country," along with Mitt Romney.

Related: Goldman Sachs boosted earnings estimates for both LVS and WYNN.

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