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Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Monday May 19.

Altria (NYSE:MO), Philip Morris International (NYSE:PM), Freeport-McMoran (NYSE:FCX), Foster Wheeler (FWLT), Transocean (NYSE:RIG), Medco Health (NYSE:MHS)

Cramer's "bullet-proof portfolio" has emerged unscathed from the violence of the current economy, and is up an average of 8.8% since November while the S&P has declined 3.3.%. Altria’s spinoff of PM was successful, and was responsible for a 4.7% upside for the companies. FCX, which Cramer says it the world’s best copper story, has gained 11.9%. In spite of FWLT’s lagging behind and its 1% drop, it is still Cramer’s favorite infrastructure play. Transocean is the portfolio winner, gaining 27.6%. Cramer would take profits in RIG, but would hold the rest. Cramer admits he underestimated competition against MHS and would sell the stock if it rallies, since it has risen only 0.7%. and he doesn’t see much upside.

Thomas & Betts (TNB)

Cramer says electric company TNB is actually a stealth play on wind power, even though the wind business only comprises 10% of the company. “Everything wind touches is . getting bigger,” said Cramer. TNB has been making profitable acquisitions and its international sector now comprises 40% of sales. Although the stock fell after its earnings report. Cramer says the company’s guidance is back-end loaded and the gains will show up on the next report. TNB trades at a mere 10 times earnings and has a generous stock buyback program.

Paragon (NASDAQ:PRGN), Star Bulk Carriers (NASDAQ:SBLK), Frontline (NYSE:FRO)

The biggest names in shipping are making huge moves and many have doubled. Cramer would look for the smaller plays like PRGN and SBLK, which despite their size are growing at a good clip. Both stocks have grown an average of 44% since last January and are adding more ships to their fleets. Cramer expects the companies, which already give generous dividends of above 9%, to increase their yields. Cramer still hasn’t left his favorite shipper FRO in the dock, but he would look for smaller names with growth potential.

Herbjorn Hansson, chairman and CEO of Nordic American Tanker (NYSE:NAT)

Hansson is remarkably bullish on his company; “It's the strongest I've seen in my time," Hansson said, "and I've been in the business since 1974." Hansson is not bothered by competition, says there have been delays in the release of new ships. This is good for the company, because it limits supply and keeps rates high. Hansson notes as Iran’s using tanks for storage is also good for NAT. He adds the company will raise its dividend next quarter. "At $18, going higher," Cramer said, "The guy is saying get on board. I'm going with him." Nucor (NYSE:NUE)

On NUE’s new stock offering of 25 million shares, Cramer would get into NUE at a discount, since it is his favorite steel play after U.S. Steel.

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Source: Get on Board Nordic American - Cramer's Mad Money (5/19/08)