Three prominent bull markets right now:

1) Aerospace / Boeing
2) Oils – When VLO buys PCO and the stocks both go up it’s a clarion call that this market is in major bull mode.
3) Google / Yahoo --> Paid search. Does not extend to auctions and books on line

Stock of the week: GOOGLE (GOOG)

Yahoo has a multiple of 60 – shouldn’t GOOG’s be bigger because it’s growing faster? Could earn $7 next year – at a 60 multiple that’s $420 a share. I don’t want you saying Cramer’s nuts so lets go for 60 multiple at $5 or 50 multiple at $6 = $300 a share. No need to be concerned about insider selling at GOOG. I’m not out of control when I say that this stock could be at $250 by weeks end.

IP, DOW and MSFT were once growth companies – Microsoft new CFO is from International Paper

How to play volatility – buy on the dips, sell at the tops

Built from Scratch is the best of all those business biographies – Ken Langone is great – wants everyone around him to be rich

Disclaimer: This is my interpretation of Cramer’s comments, the show goes by quickly so I try and catch as many key words as possible for each pick. Accuracy is NOT guaranteed but is however strived for.

BYD - BOYD GAMING CORP - Unbelievable earnings - boost in dividend is sign of confidence we need to be able to hold this stock through the 60's - Don't sell this stock
STN - STATION CASINOS - Clearly going to benefit from BYD's earnings
WYNN - WYNN RESORTS LTD - Should benefit from BYD earnings
LVS - LAS VEGAS SANDS C - Should benefit from BYD earnings
HET - HARRAH'S ENTERTAI - Should benefit from BYD earnings
GS - GOLDMAN SACHS GRP - For the first time, a little worried about them - think it’s a really cheap stock and think the conflicts of interest are wrong - if you don't like them buy BSC or LEH
BSC - BEAR STEARNS COS - Get this if you don't want to get GS
LEH - LEHMAN BROS HLD - Get this if you don't want to get GS
ZMH - ZIMMER HOLDINGS I - Think it’s a good buy on any weakness - they are not the target of the subpoena
AX - ARCHIPELAGO HLDGS - The way to profit from the NYSE / Archipelago merger - if you really believe that the NYSE is an undervalued institution the only way to play it is AX. Buy 100 shares right here, then wait 4 points and buy the second hundred - a patient way to get involved in the stock - I wish I owned it
MWD - MORGAN STANLEY - The one financial I'd avoid unless they get rid of that CEO
ACI - ARCH COAL INC - Research says there are no more good quarters ahead - heard from Mr. Leer that the thing that caused this quarter to go bad is now fixed - if oil goes below $50 you're going to have to skedaddle

Lightning Round:

KMT - KENNAMETAL INC - Sell it here
SU - SUNCOR ENERGY INC - BULL - like it and ECA - Day 5 of oil rally so be careful here
TWX - TIME WARNER INC - BULL - as soon as deal unwinds with Comcast the stock is gonna go higher
UN - UNILEVER N V N Y - BEAR - get into PG instead
LLY - LILLY ELI CO - BULL - Lilly's for me
OSG - OVERSEAS SHIPHDLG - Like TK, VLCCF, like all the tanker stocks
MO - ALTRIA GROUP INC - BULL - buy more - think you get $80 if they break the company up
WOOF - VCA ANTECH INC - BULL - niche, veterinary diagnostic - like it
CMGI - CMGI INC - BULL - I'm not giving up on it - they are wrong I'm right
ET - E*TRADE FINL CORP - Tough spot - BULL - think there is 1 down and 3 up, best I can say
MOGN - MGI PHARMA INC - Pass
C - CITIGROUP INC - BULL - I like it here
CERN - CERNER CP - Like CERN - think its good to go
MOBE - MOBILITY ELECTRON - Too dangerous for me
PCO - PREMCOR INC - Sell it - you are not an arbitrageur - ring the register
VLO - VALERO ENERGY CP - Hold it - believe it goes down to 72, 73 its good - don't let them shake you out
CREE - CREE INC - BEAR - I own intel and that ain't working, I don't know why CREE should work
BTU - PEABODY ENERGY CO - HOLD because of Arch Coal
AF - ASTORIA FINL CORP - Really good bank - BEAR - they get hurt when the fed raises rates - SELL 9 ways to Sunday
SHLD - SEARS HLDGS CORP - BULL
SJT - SAN JUAN BASIN RO - Bless the american oil trusts - KMG and SJT - not all the oil trusts
INSP - INFOSPACE INC - BULL - ringtones are a good business
AIG - AMER INTL GROUP I - Just give me an outside chairman - $20 up if they do - until then - let's hold
OSUR - ORASURE TECH INC - Don't want to touch it here - one trick pony
AXP - AMER EXPRESS INC - BULL - I wish I owned it personally - piece in USA Today was magnificent
TS - TENARIS S.A ADS - Oil and gas good - Latin America not so good
NOVL - NOVELL INC - BEAR - Been a sell for 9 years, see me in another 9
STZ - CONSTELLATION BRD - Worried they are going to bid for Allied Domec because FO got a good deal - BEAR - worried
OMM - O M I CP NEW - Same as TK earlier - like the oil tankers - think they have another year left
ALL - ALLSTATE CP - BULL
PGH - PENGROWTH EGY UTS - Like the american oil trusts - this is canadian - like Kinder Morgan better longer term - like it ok - think it goes up a little bit
MAY - MAY DEPT STORES - Sell May - take the money and go buy some shares of SHLD
SFA - SCIENTIFIC ATLANT - RING THE REGISTER - sell the stock - business of selling to Time Warner's and Comcasts is a very very bad business - don't want you in that stock long term
DIS - WALT DISNEY-DISNE - BULL - too cheap to sell - waiting for something from Eiger
ATVI - ACTIVISION INC - Sell it
ERTS - ELECTRONIC ARTS - Acutally like it

OSTK - OVERSTOCK.COM INC - What matters is the earnings and OSTK needs to make more money before the stock goes higher - I can't move the stock, Greenberg doesn't move the stock and neither does Matthews - earnings and making money moves the stock
ALTR - ALTERA CP - Don't think its good enough to get above 20 - I'd take a little profit off of that
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