Jim Cramer's Mad Money In-Depth, 11/13/07: Buy Celgene

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Tuesday November 13. Click on a stock ticker for more analysis:

Target (TGT), Kohl's (KSS), Costco (COST), GameStop (GME) J.C. Penney (JCP), Sears (SHLD), Google (GOOG), Apple (AAPL), J.C. Penney (JCP), Research in Motion (RIMM), Goldman Sachs (GS)

Tuesday's rally "gives us a week's worth of good," says Cramer and occurred because the market was oversold and companies like Corning, Wal-Mart and Goldman Sachs reported good news. Cramer would take advantage of this week-long vacation from sub-prime misery. Wal-Mart's strong numbers mean its time to look at TGT, COST and KSS, as well as GME, JCP which could jump on a good earnings report on Thursday, and even "worst-in show" Sears. Cramer would also revisit his three tech horsemen, Google, Apple and RIMM. GS is "is going much, much higher," but Cramer would sell most brokerages and banks into strength. "If you think the really is fake, stay defensive," said Cramer, and added even true believers should watch their step.

Genentech Inc. (DNA) and Celgene (CELG)

People don't stop taking their pills or trying to cure cancer because the economy is slow, said Cramer, noting that biotech fared well in the slump of 1990. He recommended DNA, a stock he hasn't liked for a long time and CELG which recently has "done nothing." However, Cramer would buy CELG ahead of an American Society of Hematology meeting in December, since treatment for blood cancer. Revlimid will be featured. While the quarter was not exciting, CELG has a 42% long-term growth rate. DNA has a "miracle cancer drug" Avastin which is going to be discussed at the Food and Drug Administration's Oncologic Drugs Advisory Committee meeting on Dec. 5. Cramer prefers CELG, but says DNA has "more of a catalyst near term."

Related: Stock Geek discussed Celgene's growth potential.

Onyx Pharmaceuticals Inc. (ONXX)

Cramer called ONXX the Amgen (top biotech drug during the 1990s market crisis) of 2008. Onyx anti-cancer therapy drug Nexavar is "amazing" remarked Cramer. One reason for Onyx hitting its 52-week high is Nexavar's label expansion, as it is now used off-label as a treatment for liver cancer. Although Cramer likes Onyx, he says it is more speculative because it is not as well-established as CELG and DNA.

Mad Mail: Coca-Cola (KO), Pepsi (PEP)

Cramer told a viewer he is worried about PEP's raw costs, especially after KO announced that its raw costs have peaked and PEP did not give a similar announcement. However, Cramer says he still thinks PEP is a well-run company.

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