Cramer started off the show talking about drug stocks. He noted that he likes Genentech and Amgen (DNA, AMGN) but that the biotech play he really likes is Genzyme (GENZ). Cramer doesn’t want “monomaniacal” biotech stocks. He doesn’t think that Genentech is diversified as for the most part they are only focused on cancer. He believes that Genzyme’s strategy of dominating many niche markets makes the stock “right.”

Jim believes that Accenture (ACN) has been trying to get everyone’s attention for a while and is a great outsourcing play. He has switched is outsourcing trade from Infosys (INFY) to Accenture (ACN). He also noted that he wishes he owned it for his charitable trust.

Herb Greenberg joined Jim in studio today for the Beating the Racket segment. Greenberg believes that Take-Two Interactive (TTWO) is in a world of hurt and it doesn’t make sense to buy it here at 18. Greenberg thinks that Amlyn (AMLN) could go to 100 or 200 over the next two, three or four years. Both Greenberg and Cramer like their drug Byetta. Greenberg has a “source” that believes that AMLN is getting traction for their prescriptions. Cramer believes it is better to ring the register here on the stock.

Top of Show - DNA - m y - 84.7 - Genentech, Inc. - BULL -
Top of Show - AMGN - m y - 75.87 - Amgen, Inc. - BULL -
Top of Show - GENZ - m y - 69.45 - Genzyme Corporation - BULL - "The biotech you really want to own"
Caller Question - KOOL - m y - 5.06 - ThermoGenesis Corp. - "Don't buy, don't buy"
Feature - ACN - m y - 25.76 - Accenture Ltd -
Lightning Round - HAL - m y - 58.5 - Halliburton Company - BEAR - Cramer Owns It - "The stock is going to see 55 before it sees 65"
Lightning Round - S - m y - 22.7 - Sprint Nextel Corporation - BEAR - TRIPLE SELL - "Telco is really from Hades"
Lightning Round - VLO - m y - 99.87 - Valero Energy Corp. - Ring The Register -
Lightning Round - PENN - m y - 26.52 - Penn National Gaming, Inc - BULL - "If it goes to 25, I'm doing a mon back"
Lightning Round - SWN - m y - 64.83 - Southwestern Energy Company - BULL - "If you buy some here it will probably not be the low tick of this stock"
LR Cramer - ECA - m y - 47.89 - ENCANA CORP - BULL - Cramer Owns It -
Lightning Round - GM - m y - 29.12 - GENERAL MOTORS - "Don't buy, don't buy"
Lightning Round - CD - m y - 19.68 - Cendant Corporation - BULL - Cramer Owns It -
Lightning Round - GOOG - m y - 303.28 - Google Inc. - BULL - "All aboard" 350 is my price target on Google
LR Cramer - YHOO - m y - 33.7 - Yahoo! Inc. - Cramer Owns It -
Lightning Round - BMY - m y - 22.22 - Bristol Myers Squibb Co. - BULL - "If they lose the patent fight the stock goes to 18, win it goes to 30"
Lightning Round - AEP - m y - 36.68 - American Electric Power - "It's okay"
Lightning Round - BCRX - m y - 16.59 - BioCryst Pharmaceuticals, Inc. - Ring The Register - "That trade is OVEEERRRR"
Lightning Round - JPM - m y - 33.77 - JPMorgan Chase & Co. - BULL - I see 1.5 down and 7 up if Greenspan moves on
Lightning Round - ADM - m y - 24.42 - Archer Daniels Midland Company -
Lightning Round - PANC - m y - 8.62 - Panacos Pharmaceuticals, Inc. - "The trade is over. PANC is NOT for me."
Lightning Round - PGR - m y - 107.91 - The Progressive Corp. - BEAR -
Lightning Round - WMT - m y - 45.13 - Wal-Mart Stores, Inc. - BULL - "Wal-Mart is two thumbs up, WAAAYYYY up!"
Lightning Round - VLCCF - m y - 29.3 - Knightsbridge Tankers Limited - Ring The Register -
LR Cramer - GMR - m y - 34.1 - General Maritime Corporation - BULL -
Lightning Round - DCEL - m y - 6.96 - Dobson Communications Corp. - "House of pain"
Lightning Round - LU - m y - 3.11 - Lucent Technologies Inc. - Cramer Owns It -
Lightning Round - MOT - m y - 20.17 - Motorola, Inc. - Cramer Owns It -
Lightning Round - WCC - m y - 35.6 - WESCO International, Inc. - BULL -
Lightning Round - CHK - m y - 31.36 - Chesapeake Energy Corporation - Ring The Register - Paraphrasing - It'll go up if the thermometer goes to 32 or below within the next three weeks, otherwise I will get involved with it at 25.
Lightning Round - ISE - m y - 23.31 - International Securities Exchange, Inc. - "Don't want to play that game"
Lightning Round - GS - m y - 117.09 - Goldman Sachs Group, Inc. - BULL -
Lightning Round - CIB - m y - 21.79 - Bancolombia S.A. (ADR) - "Better fish to fry in America at this point"
Lightning Round - REV - m y - 2.83 - Revlon, Inc. - Ring The Register -
Lightning Round - MO - m y - 72.48 - ALTRIA GROUP - Cramer Owns It - "We're in it for the big restructuring and that is 2 months away."
Beating the Racket - TTWO - m y - 18 - Take-Two Interactive Sft. - BEAR - Greenberg and Cramer give it the Bear
Beating the Racket - AMLN - m y - 36.23 - Amylin Pharmaceuticals - BULL - Ring The Register - Cramer wants to Ring the Register but is willing to let Greenberg give it the bull for the longer term
Mad Mail - TXN - m y - 29.8 - Texas Instruments Incorporated - BULL -
Mad Mail - AAPL - m y - 52.21 - Apple Computer, Inc. - BULL -
Mad Mail - TIVO - m y - 4.73 - TiVo Inc. - BEAR - TRIPLE SELL -
Mad Mail - MSFT - m y - 24.57 - Microsoft Corporation - BULL - "Two thumbs up, WAY up"
Thought - INTC - m y - 23.72 - Intel Corporation - Cramer Owns It - "I think it goes to 22.5, not much lower than that."

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. In no way does Reasoned Investing assume any responsibility for any investment or other decisions made based upon the information provided on this web site.

NOTE: I've added today's closing price to each of the stocks listed below. The "m" next to the stock symbol links to the stock on moneycentral.msn.com while the "y" does the same to finance.yahoo.com. Clicking on the symbol itself takes you to a Google search of the website for that symbol.

"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

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