Cramer's Opening remarks:

Mergers helped the market today

Obituary for Radio – Radio is dead.

CCU – Clear Channel Radio – CCU is planning to split up, spinning off entertainment and outdoor ads. Hicks Muse selling its stake in radio. We like growth and it is very clear to us that Clear Channel is growing at 3-4%, that’s death. SELL SELL SELL. Some things are actual train wrecks – people want clear signal, no ads, satellite radio! SELL YOUR RADIO STOCKS. Buy XM (XMSR) Buy Sirius (SIRI).

How to value the satellite radio companies: Trying to value them like cable doesn’t work. Imagine cable ten years ago when they were losing money hand over fist. Look at cell phones in the 80s, cable TV in the 80s. XM is cheaper than Sirius. Treat it as a call option.

ADBL – Audible.com – Reported a much better quarter and could arguably be a derivative of satellite radio. Stop outthinking what’s good. Invest in Sirius and XM.

How can you tell that things have gotten too negative? E*Trade / Ameritrade deal (ET AMTD) – people are way too negative when people are saying “that deal won’t happen” when it’s happening. That’s what happened with an analyst and this on Friday. Buyers took up both stocks today because the companies could save on advertising. BULL – I think Waterhouse is cheap, NITE, SCH also cheap. Many good things can happen – but you can’t underestimate how much commodity businesses have to spend in order to win share and this would change that dramatically. I would particularly want to own ET because it’s cheaper than AMTD, but I’d own either one. This is business have been awful for so long that its about time that somebody blinked and its about time we could make some money.

Are financials a good buy? Historically they have not been a good buy when the Fed is tightening. I own fewer financials than are represented by the averages because I’m worried about that.

PICK OF THE WEEK:
This is a catalyst driven market where you have to buy stuff ahead of the news – I’m giving you three picks of the week.

1) PNC – PNC Financial – It’s the most hated of the banks – the long awaited Riggs deal closes Friday. PNC has got a good yield, almost 4%. Got a giant buyback which could have a major effect on the stock after the deal closes Friday. Think they hear the footsteps at PNC – think they know that if they don’t get their stock up one of the big European banks will come over and swallow them. Get in front of the close of that deal.

2) This one is only a trade. DO NOT by any means own this stock after this news comes out. PLMO – Palm One – Think there is a chance that Verizon certifies the Treo 650 this week. That could trigger rampant buying in this name. 650 has camera, MP3 player, better email cheaper than the orginal 600– you are buying an iPod shuffle with all that other stuff thrown in. I’m liking the Palm One – FOR A TRADE – ahead of this Verizon accreditation.

3) Video game biz is going to be strong for a while – can’t buy Sony, Microsoft or Electronic Arts so you buy Gamestop (GME). Think it gets a shot in the arm because of the Apprentice show. You want to be in it by Thursday’s show.

Telecom – SELL SELL SELL. The industry is awful. Only going to be a couple of survivors.

Natural gas or crude oil energy companies? At this point I favor natural gas. I think that natural gas is the undervalued one, the one that’s done nothing lately – the place to be and where I’m staying focused.

Don’t care what DELL and CSCO do with earnings after the close this week. Not trying to amuse myself with old tech names.

Oil – up 4 straight days, you know that tomorrow you have to do some selling. I expect they’ll go back down on Wednesday.

Lightning Round:

NITE - Knight Trading Group, Inc. - If I were at my hedge fund I'd be buying a basket of these for a trade - BULL
SCH - Charles Schwab Corp. - If I were at my hedge fund I'd be buying a basket of these for a trade - BULL
AMTD - Ameritrade Holding Corp. - If I were at my hedge fund I'd be buying a basket of these for a trade - BULL
ET - E*TRADE FINANCIAL Corporation - If I were at my hedge fund I'd be buying a basket of these for a trade - BULL

Disclaimer: I AM NOT JIM CRAMER. I sometimes write the summary in first person because my brain doesn't quite move fast enough to process and type at the same time, so please excuse that. This blog has no affiliation with Jim Cramer, CNBC, or Mad Money. This is done for me and you to be able to better follow and track 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.

CBH - Commerce Bancorp, Inc. - Never good to be convicted - but we know this. CBH has been suffering for 8-9 months about this stuff. How about taking advantage of that one. They do well when the Fed raises rates.
RNVS - Renovis, Inc. - Like the group, I'm gonna bless it - BULL
TE - TECO Energy, Inc. - Bull - what's not to like
HCBK - Hudson City Bancorp, Inc. - Everyone seems to like this except for me - I've got three banks I like more CBH, PNC, JPM
CBH - Commerce Bancorp, Inc. - One of the top three banks that Cramer likes
PNC - PNC Financial Services - One of the top three banks that Cramer likes
JPM - JPMorgan Chase & Co. - One of the top three banks that Cramer likes
C - Citigroup Inc. - BULL - let's be careful here - thinks its been going up up up since they announced the buyback
SO - The Southern Company - BULL - of course I would buy more Southern Corp.
RDC - Rowan Companies, Inc. - While I like the drillers very much, they are up on the spike - take a little register ring - buy on a pullback below 25
SGMS - Scientific Games Corp. - IGT is cheaper, bigger and better
NEW - New Century Financial Corporation (REIT) - Sub prime loan market is not for me - BEAR
HSP - Hospira, Inc. - BEAR - never made a dime in injectible pharmaceuticals
DTV - The DIRECTV Group, Inc. - BULL - because I dislike Echostar even more
LEXR - Lexar Media, Inc. - No - got the big jury verdict - exit stage right from that one.
CBH - Commerce Bancorp, Inc. - Take advantage of the jury verdict and ALL ABOARD CBH
QTWW - Quantum Fuel Systems Technologies - BULL - The only fuel cell play I'll endorse on this show
CVS - CVS Corporation - I like CVS - BULL
WAG - Walgreen Company - Like WAG
RAD - Rite Aid Corporation - Sell - BEAR
ITT - ITT Industries, Inc. - BULL - Like it so much but nobody cares about it - it goes higher
BYD - Boyd Gaming Corporation - BULL - what's not to like - When Harrah's closes with Caesar's I'm going to swap out of BYD and into that.
DUK - Duke Energy Corporation - BULL - Take advantage of that decline - I like that situation with the Cinergy merger
WM - Washington Mutual Inc. - Ring the register - swap out of Washington Mutual into CBH
AX - Archipelago Holdings, Inc. - Still think it goes higher - Jerry Putnam be a money maker - BULL
ARIA - Ariad Pharmaceuticals, Inc. - BEAR - too speculative for me - cancer cell company
MSO - Martha Stewart Living Omnimedia Inc. - Want that stock to cool off - ring the register - still don't have the earnings - want to see the money before I step up to the plate
PEG - Public Service Enterprise Group Inc. - Want you to tender and get the Excelon - think this combination is fabulous for everyone but the customers because the bills going to go straight up
SHLD - Sears Holdings Corporation - BULL - Don't want to hear sell or hold in connection with Sears - how bout that Orchard that was put together by the guy Lacey at sears?
TIBX - Tibco Software Inc. - BEAR - did get the good contract from Harrah's. Would not refer to it in the same sentence as Mister Softee
FSS - Federal Signal Corp. - Boring vehicle equipment stock that I like for an investment - BULL
JOYG - Joy Global Inc. - Like that - underground mining is good - swap out of MSA and get into JOYG
MSA - Mine Safety Appliances - Swap and get into JOYG
DHB - DHB Industries, Inc. - BEAR - no - think it STILL goes lower
ABS - Albertson's, Inc. - SELL - BEAR - Buy Whole Foods, I don't care that it costs five times more and is five times more expensive. Albertson's is wrong and Whole Foods (WFMI) is right!
WFMI - Whole Foods Market, Inc. - Swap out of ABS and get into this
NRGY - Inergy, L.P. - BULL - I like that company - could be a potential takeover
DYN - Dynegy Inc. - Bear - now
PTEN - Patterson-UTI Energy, Inc. - BULL - like it
PDCO - Patterson Companies, Inc. - BULL - like it
AES - The AES Corporation - What an amazing turn around AES has done - BULL - incredible - I got off the horse at 11 its at 16 now probably goes higher
LZ - Lubrizol Corporation - Worried about the raw costs of the additives business - I'd ring the register if I were you
SBL - Symbol Technologies Inc - This guy's killing me - I'm beginning to fell like the stock is very hate able stock though - Man out the window sound - own it personally
HIG - Hartford Financial Services - BULL - Not a big annuity buyer but I think financially this company is for me. Don't like it as much as Met Life (MET) or Prudential (PRU) though.
MET - MetLife, Inc. - Like it more than HIG
PRU - Prudential Financial, Inc - Like it more than HIG
CMX - Caremark Rx, Inc. - Pharmacy benefits are for me. BULL - I even like Medco and at one time or another I probably said some bad things about them. Not changing my view, the industry is getting better.
MHS - Medco Health Solutions Inc. - Industry is getting better so I like it
TASR - TASER International, Inc. - Ring the register - don't like the stock but it is up $1.50
MRK - Merck & Co., Inc. - If we have to rate the drugs - JNJ #1, SGP #2, PFE #3 MRK not at all - BEAR on MRK
JNJ - Johnson & Johnson - #1 Drug stock
SGP - Schering-Plough Corp. - #2 Drug stock
PFE - Pfizer Inc. - #3 Drug stock
BSX - Boston Scientific Corp. - BULL - like it, not getting off that horse now
ENB - Enbridge Inc. (USA) - Like this more than LNG that everyone keeps talking about
PTG - Paragon Technologies Inc. - BULL - Buddy Frank Mitch who is absolutely the best chemical analyst tells me this is incredibly a buy - BULL - I think its run too much but I'm going to defer to his chemical judgment
PCP - Precision Castparts Corp. - BULL - throw in BEA which makes the seats, that's a winner too.

LU - Lucent Technologies Inc. - How about that Lucent. CEO is excellent. $200 million dollar buyback of the convertible preferred. Used some of their cash benefit to help the shareholders. If you are coming in right now you just came in up 50 cents - if Lucent pulls back BULL, I like it again

DXCM - DexCom, Inc. - Andy Rasdal - CEO joins the show. Cramer: This is a broken IPO - they priced the stock at 12 and the shareholder bas abandoned it. Patient people should buy stocks of broken IPOs. I think the diabetes market is huge. This company is a very smart company. It's a trade only for those that can handle loss making companies. Sure do like it when the pessimism drives the stock below where it IPO'ed.

SHLD - Sears Holdings Corporation - The potential to be Berkshire Hathaway - want to believe that the combination of the great synergies between Kmart and Sears, the possibility of unlocking the incredible real estate values and then finally letting Eddie Lampert compound for you is great. Sears is the ONE stock to go with.mortgage calculator