Cramer is bullish on the market here. He believes that this is the bottom, meaning that “you need to start buying.” He likes tech, oil stocks, PG, MOT, YHOO, IR, MSFT, and PEC. He did however warn that his stance on oil stocks has changed here and that he is now interested in selling the rallies NOT buying the dips on the oils.

He believes that we are at a bottom here for numerous reasons. Any time you see the market sentiment survey percent of bulls as low as 45% you should be buying. The indicator on Wednesday was at that 45% level. He also likes the short-sale ratio which shows the discrepancy between the number of shorts put on by Wall Street specialists and retail investors. This ratio is at a 5 year high right now as retail investors are shorting 4x as much as the Wall Street specialists. Other listed positives for a market bottom include the Refco scandal and Greenspan’s pending retirement.

His “Bottom Line” for the top of the show was to “buy companies of substance.”

Cramer also believes that Africa is a smart place to put your money. He recommends investing in SSL, HMY, UEPS, NPSN.

In the “Sell Block” Cramer pieced together reasons that a stock can be deemed unownable. Red flags include repeatedly filing late, losing money (bad for an oil company at this point), production is decreasing, zero retail sales.

The Mad Money challenge is still running at www.madmoneychallenge.com

Donald Earhart, President and CEO of I-Flow Group (IFLO) joined Cramer on the show to speak on the possibilities that they may pick up some of Baxter’s pump business. Earhart wasn’t allowed to comment directly on the specifics of the recall but he stated that the “recall does highlight a growing trend in our business, where we are seeing more and more hospitals and home care providers replace their high-tech electronic programmable pumps with very simple mechanical ones like the pumps we make and sell at I-Flow.” Cramer said the stock was “okay” but gave it the BULL.

DISCLAIMER:
Disclaimer: This blog has no affiliation with Jim Cramer, CNBC, or Mad Money. If you'd like to contact Jim Cramer directly, email him at madmoney@cnbc.com, or call 1-800-743-CNBC. This summary is done for you and I to be able to better track and follow Jim Cramer’s comments. ACCURACY IS NOT GUARANTEED but is however strived for.

"Bull", "Bear", "Best of Breed" and other marks can be inferred and don't necessarily need to be stated directly for me to record them as such.

Category notes:
AID Cramer: A stock mentioned during “Am I Diversified” by Cramer
Feature: A whole segment of the show was devoted to this topic
Guest: Cramer has a guest on the show specifically to discuss this stock
Thought: A Cramer initiated random thought on a stock
Top of Show: Stock mentioned in the very first topic of the show

Onto the stocks:

Top of Show - PG - m y - 56.11 - PROCTER GAMBLE - BULL - Cramer Owns It -
Top of Show - MSFT - m y - 24.67 - Microsoft Corporation - BULL - Cramer Owns It -
Top of Show - MOT - m y - 20.16 - Motorola, Inc. - BULL - Cramer Owns It -
Top of Show - PEC - m y - 18 - Pike Electric Corporation - BULL -
Top of Show - YHOO - m y - 33.52 - Yahoo! Inc. - Cramer Owns It -
Top of Show - IR - m y - 36.79 - Ingersoll-Rand Company Limited - BULL -
Feature - SSL - m y - 32.77 - Sasol Limited (ADR) - BULL - Expecting record earnings for the company next year
Feature - HMY - m y - 10.64 - Harmony Gold Mining Co. (ADR) - BULL -
Feature - GG - m y - 18.8 - GOLDCORP INC - BULL -
Feature - UEPS - m y - 21.85 - Net 1 Ueps Technologies Inc - BULL - "Think this could be huge"
Feature - NPSN - m y - 14.36 - Naspers Limited (ADR) - BULL - "The one newspaper company I'll endorse"
Caller Question - AAUK - m y - 28.26 - Anglo American plc (ADR) - BULL -
Lightning Round - LF - m y - 13.25 - LeapFrog Enterprises, Inc. - BULL -
Lightning Round - BEBE - m y - 16.4 - bebe stores, inc. - BEAR - TRIPLE SELL - "Too hard"
LR Cramer - AEOS - m y - 23.16 - American Eagle Outfitters - BEAR - TRIPLE SELL - "Too hard"
LR Cramer - ARO - m y - 18.52 - Aeropostale, Inc. - BEAR - TRIPLE SELL - "Too hard"
LR Cramer - CHS - m y - 37.73 - Chico's FAS, Inc. - BULL -
LR Cramer - URBN - m y - 29.52 - Urban Outfitters, Inc. - BULL -
Lightning Round - C - m y - 45.04 - Citigroup Inc. - BULL - "For a trade"
Lightning Round - EMN - m y - 46.59 - Eastman Chemical Company - BULL - "EMN is for MEEEEE!!!"
Lightning Round - DXPE - m y - 17.65 - DXP Enterprises, Inc. - Not recommending the BUY BUY BUY for DXPE
Lightning Round - SCH - m y - 13.13 - Charles Schwab Corp. - BULL - "BUY BUY BUY BUY BUY BUY BUY BUY BUY"
Lightning Round - GAS - m y - 38.53 - Nicor Inc. - BULL -
Lightning Round - XTO - m y - 41.08 - XTO Energy Inc. - BULL - "Think 41 goes to 44, when it gets to 44 ring the register"
Lightning Round - FDRY - m y - 12.22 - Foundry Networks, Inc. - "I think Mr. Softee (MSFT) is better"
Lightning Round - THE - m y - 39.2 - TODCO - "Three or four points then" ring the register
Lightning Round - TIBX - m y - 7.78 - Tibco Software Inc. - BEAR - "Don't Buy"
Lightning Round - DOV - m y - 39.77 - Dover Corporation - BULL -
Lightning Round - MTIX - m y - 6.42 - Micro Therapeutics, Inc. - Cramer likes AMGN and DNA better
Lightning Round - ZMH - m y - 67.29 - Zimmer Holdings, Inc. - BEAR - "Don't buy"
Lightning Round - OXY - m y - 72.73 - Occidental Petroleum Corporation - Cramer Owns It -
Lightning Round - CELG - m y - 51.7 - Celgene Corporation - BULL - "The bull is back on CELG"
Lightning Round - NTGR - m y - 21.47 - NetGear, Inc. - House of pain
LR Cramer - INTC - m y - 23.23 - Intel Corporation - Cramer Owns It -
Lightning Round - SFI - m y - 37.51 - iStar Financial Inc. - BEAR - TRIPLE SELL -
Lightning Round - NURO - m y - 33.71 - NeuroMetrix, Inc. - Ring The Register -
Lightning Round - TTM - m y - 11.79 - Tata Motors Limited (ADR) - "When it comes to autos number one is Toyota, number two is Honda"
Lightning Round - VRTX - m y - 22.7 - Vertex Pharmaceuticals Incorporated - BULL -
Lightning Round - WM - m y - 37.82 - Washington Mutual Inc. - BULL - Change of posture here, "not so bad for a trade here"
Lightning Round - NGS - m y - 30.6 - Natural Gas Services Group, Inc. - Ring The Register -
Lightning Round - AAPL - m y - 54 - Apple Computer, Inc. - BULL -
Lightning Round - QCOM - m y - 41.93 - QUALCOMM, Inc. - BULL - Cramer Owns It - "BUY BUY BUY BUY BUY BUY BUY BUY BUY"
Thought - EQT - m y - 36.48 - Equitable Resources, Inc. - BULL -
Thought - CNXT - m y - 1.82 - Conexant Systems, Inc. - BULL -
Thought - JDSU - m y - 1.98 - JDS Uniphase Corporation - BULL -
Guest - IFLO - m y - 13.12 - I-Flow Corporation - BULL -
Thought - BCRX - m y - 16.75 - BioCryst Pharmaceuticals, Inc. - BULL - "Everytime somebody sneezes in Europe you should buy BCRX"

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