“This is what the bottom looks like!”

Today’s stock market rally was significant and mattered according to Cramer, who said it signaled the beginning of a fourth quarter rally. The day started out about as ugly as ever with disappointing headlines from Intel (INTC), bad overnight markets overseas, downgrades in the housing stocks but something was amiss according to Jim. “This was indeed a day where you had to buy. We bottomed.”

Cramer believes that the oil, homebuilder, tech and bank stocks have bottomed here. When a caller questioned whether this was just a blip in a bear market Cramer noted that “we reached certain extreme benchmarks that I have not seen in my career, other than when we’ve hit a bottom, except for October 1987.” He recommended that even those with a bearish mindset wait to sell at higher levels.

James Altucher of thestreet.com got Cramer thinking positively about Verisign (VRSN). Cramer thinks the internet company is undervalued. Comparing VRSN to his pick of GENZ yesterday Cramer likes how the stock has a “mosaic” of revenue sources. He also “applauds” Verisign’s buying back of shares.

Probed by a caller for a possible destination stock price Cramer answered that he thought “it goes to 28-29.” He cited Google’s (GOOG) pending earnings and Yahoo’s (YHOO) already reported earnings as catalysts for a move in anything internet that could send Verisign higher.

In the lightning round Cramer pointed out that he believes the OSX (Oil Industry) is a “mon back” now.

Fred Poses, Chairman and CEO of American Standard joined Cramer on Mad Money today. Poses admitted on the air that he disappointed himself with the companies’ numbers. American Standard has been having trouble with their bath and kitchen business as the “consumer is in a more difficult position than they’ve been in in a while in the United States” according to Poses. The bath and kitchen business accounts for seven percent of American Standard’s business. Cramer rated American Standard a “Don’t buy, don’t buy” but admitted that he’s pulling for the CEO.

In closing the show Cramer summed up his bullish thesis on tech by citing 7 facts.
1) IBM and EMC evidence that the ENTERPRISE MARKET is strong
2) INTERNET, very strong. Yahoo was beautiful
3) LAPTOP is still strong
4) CELL PHONE
5) VIDEO GAME business is booming
6) BIG SCREENS
7) IPOD you still can’t find ‘em

The stocks:

Top of Show - YHOO - m y - 35.91 - Yahoo! Inc. - BULL - Cramer Owns It -
Top of Show - MOT - m y - 21.02 - Motorola, Inc. - BULL - Cramer Owns It -
Top of Show - QCOM - m y - 44.02 - QUALCOMM, Inc. - BULL - Cramer Owns It -
Top of Show - JPM - m y - 34.73 - JPMorgan Chase & Co. - BULL -
Top of Show - WB - m y - 49.14 - Wachovia Corporation - BULL -
Top of Show - LEN - m y - 56.29 - Lennar Corporation - BULL -
Top of Show - XOM - m y - 57.17 - Exxon Mobil Corporation - BULL -
Thought - INTC - m y - 23.69 - Intel Corporation - Cramer Owns It -
Feature - VRSN - m y - 21.24 - VeriSign, Inc. - BULL - "Buy buy buy", "It goes to 28-29"
Caller Question - RSA - m y - 8.5 - Royal & Sun Alliance Insurance Grp (ADR) - BEAR - "Worst of Breed"
Lightning Round - WEN - m y - 45.75 - Wendy's International - "Last year's story"
LR Cramer - YUM - m y - 51 - Yum! Brands, Inc. - BULL -
Lightning Round - GW - m y - 7.33 - Grey Wolf, Inc. - BULL - "I still believe that Grey Wolf will go higher"
Lightning Round - AMTD - m y - 20.24 - Ameritrade Holding Corp. - "Up Stock"
LR Cramer - ET - m y - 17.05 - E*TRADE FINANCIAL Corporation - "Cheap stock"
LR Cramer - SCH - m y - 13.6 - Charles Schwab Corp. - BULL - "Mon back"
Lightning Round - PNRA - m y - 59.26 - Panera Bread Company - BULL - "I think it goes to 60 and beyoooond!"
Lightning Round - CFC - m y - 32.26 - Countrywide Financial Corporation - "One down and six up!"
Lightning Round - FRK - m y - 56.29 - Florida Rock Industries, Inc. - BULL - "This part of the economy is not in bear market mode"
Lightning Round - PEG - m y - 60.56 - Public Service Enterprise Group Inc. - "kinda like it"
Lightning Round - NT - m y - 3.48 - NORTEL NETWORKS CORP - BULL - "Mon back"
Lightning Round - OMM - m y - 17.36 - OMI Corporation - dog sound
Lightning Round - MNTA - m y - 26.73 - Momenta Pharmaceuticals, Inc. - Get AMGN instead
LR Cramer - AMGN - m y - 78.09 - Amgen, Inc. - BULL -
LR Cramer - GENZ - m y - 71.2 - Genzyme Corporation - BULL -
LR Cramer - DNA - m y - 85 - Genentech, Inc. - BULL -
Lightning Round - IIJI - m y - 8.86 - Internet Initiative Japan, Inc. (ADR) - TRIPLE SELL -
Lightning Round - NVDA - m y - 31.54 - NVIDIA Corporation -
LR Cramer - TXN - m y - 30.07 - Texas Instruments Incorporated - BULL -
LR Cramer - NSM - m y - 23.13 - National Semiconductor Corporation - BULL -
Lightning Round - SIMG - m y - 7.66 - Silicon Image, Inc. - "Don't buy, don't buy, don't buy"
Lightning Round - HRH - m y - 38.39 - Hilb, Rogal & Hobbs Company - "I think Aon is the better buy"
LR Cramer - AOC - m y - 32.6 - Aon Corporation - BULL -
Lightning Round - OXY - m y - 73.55 - Occidental Petroleum Corporation - Cramer Owns It - 12 up and 2 down
Lightning Round - AMGN - m y - 78.09 - Amgen, Inc. - BULL - "Buy buy buy!"
Lightning Round - TXRH - m y - 14.24 - Texas Roadhouse, Inc. - BEAR - Likes Darden, Yum, not the rest of the industry
LR Cramer - DRI - m y - 30.97 - Darden Restaurants, Inc. - BULL -
LR Cramer - YUM - m y - 51 - Yum! Brands, Inc. - BULL -
Lightning Round - CDIS - m y - 57.19 - Cal Dive International, Inc. - BULL - Ring The Register - "Ring the register a little and let the rest ride"
Lightning Round - ARXT - m y - 37.95 - Adams Respiratory Therapeutics, Inc. -
Lightning Round - SEE - m y - 47.08 - Sealed Air Corp. - Buy HAL instead
Lightning Round - HAL - m y - 59.49 - Halliburton Company - BULL - Cramer Owns It -
Lightning Round - SWKS - m y - 5.47 - Skyworks Solutions, Inc. - BULL -
Guest - ASD - m y - 36 - American Standard Companies Inc. -
Feature - TXN - m y - 30.07 - Texas Instruments Incorporated - BULL -
Feature - GLW - m y - 18.38 - Corning Incorporated - BULL -
Feature - AAPL - m y - 54.94 - Apple Computer, Inc. - BULL -
Feature - GOOG - m y - 308.7 - Google Inc. - BULL -
Feature - PLAY - m y - 26.4 - PortalPlayer, Inc. - BULL -
Feature - MOT - m y - 21.02 - Motorola, Inc. - BULL - Cramer Owns It -
Feature - GME - m y - 33.96 - Gamestop Corp. Cl A - BULL - Cramer Owns It -
Feature - QCOM - m y - 44.02 - QUALCOMM, Inc. - BULL - Cramer Owns It -
Feature - MSFT - m y - 25.09 - Microsoft Corporation - Cramer Owns It -

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

-------
This posting also found at www.reasonedinvesting.com

mortgage calculator