Cramer likes LNG (Cheniere Energy) as more than anything else in the world Cheniere needs the blessing of the Fed regulators. Cramer believes that the regulatory commission is going to rule in their favor because they just hired the consulting firm owned by former Secretary of Energy, Spencer Abraham. He blessed Cheniere with a “BUY BUY BUY!” He did place a caveat on the pick by saying to “give this stock 18 months to work the Spencer magic,” and “I think that this is going to be a multi-year positive regulatory story and you’re getting in very, very cheap.”

Henry Silverman, CEO of Cendant (CD) joined Cramer in studio today. Cramer came away from the conversation saying that “I was disappointed where the stock went. I’m not going to sell a share, I think there is real value but I am going to have Henry back six months from now and we’ll see how you did.”

GOOGLE 500 PRICE TARGET??
In the Lightning Round Cramer offered a glimpse into his newest price target on Google (GOOG) saying in reply to a caller asking about GOOG, “Hey I was about to reveal my price target but you never bury your lead at this point in the show. But remember this, $10 in earnings power, 50 multiple. You take the multiple and multiply it by the earnings and you get… Stay with Cramer!!!”

Cramer featured Johnson Controls (JCI) after the lightning round today. Johnson Controls is escaping from the auto business. Cramer wondered what may happen if Johnson Controls split itself into two companies, “one for energy controls and one for automotive. That’d be huge, stock would take off!” He surmised that they could jettison the auto business and you’d be left with “a pure play on saving money from higher energy costs.” Calling himself “The Stock Whisperer” Cramer thinks that JCI “shouldn’t be going up the way it is unless they are planning on at least splitting the company up.”

Fred Hassan, Chairman and CEO of Schering-Plough (SGP) joined Cramer on the show via phone. Cramer gave the stock the “BULL” saying “Schering-Plough is now the one to play because this guy’s a winner.”

The stocks:

Top of Show - LNG - m y - 35.98 - Cheniere Energy, Inc. - BULL - "Pure play on crony-ism", "BUY BUY BUY!"
Guest - CD - m y - 18.77 - Cendant Corporation - Cramer Owns It -
Thought - TXN - m y - 30.92 - Texas Instruments Incorporated - "Under 29, you gotta buy that thing"
Thought - PLAY - m y - 27.86 - PortalPlayer, Inc. - BEAR - Cramer actually hit the triple sell button but added the following - "I want to sell the company but not the shares cause its too low, whatever that means"
Lightning Round - GLW - m y - 18.75 - Corning Incorporated - "No break out coming" "Don't buy, don't buy till it goes back to 17"
Lightning Round - IBM - m y - 83.47 - IBM - BULL - "I think the stock is headed to 90" "TRIPLE BUY! BUY BUY BUY!"
Lightning Round - JOE - m y - 61.69 - The St. Joe Company - BULL - Cramer Owns It - "'mon back"
Lightning Round - PORK - m y - 18.08 - Premium Standard Farms, Inc. - Ring The Register - "Hogs get slaughtered"
Lightning Round - NBR - m y - 63.4 - Nabors Industries Ltd. - BULL - "'mon back"
Lightning Round - HW - m y - 32.52 - Headwaters Incorporated - BULL - "I was surprised that HW wasn't up more", "Two thumbs up, way up!"
Lightning Round - GGC - m y - 25.9 - Georgia Gulf Corporation - BULL - "I endorse it even up here, the bears are going to have to eat crow"
Lightning Round - MU - m y - 12.51 - Micron Technology, Inc. - BULL -
Lightning Round - CSCO - m y - 17.16 - Cisco Systems, Inc. - "flat-lined"
Lightning Round - ALO - m y - 25.75 - Alpharma Inc - Ring The Register -
Lightning Round - PETM - m y - 22.95 - PETsMART, Inc. - See GME comment
LR Cramer - GME - m y - 34.71 - Gamestop Corp. Cl A - BULL - Cramer Owns It - "I'd rather be levered to video games than dogs in niche retail"
Lightning Round - ATYT - m y - 13.88 - ATI TECHNOLOGIES INC - Ring The Register -
Lightning Round - VCLK - m y - 17.5 - ValueClick, Inc. - BULL - "I think VCLK goes to 20 and I'd hold onto it"
Lightning Round - HDI - m y - 50.45 - Harley-Davidson, Inc. - BULL - "My sources at HDI say things are good"
Lightning Round - ERTS - m y - 57.72 - Electronic Arts Inc. - "Swap out of ERTS into GME"
Lightning Round - ZNT - m y - 43 - Zenith National Insurance Corp. - "We only recommend PRU and MET"
Lightning Round - PRU - m y - 69.38 - Prudential Financial, Inc - BULL -
Lightning Round - MET - m y - 49.36 - MetLife, Inc. - BULL -
Lightning Round - CERN - m y - 85.8 - Cerner Corporation - BULL - "Looks like it's going to 100"
LR Cramer - MDRX - m y - 17.73 - Allscripts Healthcare Solutions, Inc. - BULL -
LR Cramer - MHS - m y - 57.27 - Medco Health Solutions Inc. - BULL -
LR Cramer - UNH - m y - 57.19 - UnitedHealth Group Inc. - BULL - Cramer Owns It -
Lightning Round - BAC - m y - 43.38 - Bank of America Corporation - BULL - "Let me tell you how good this rally is, I will even give BAC a thumbs up!"
Lightning Round - LCAV - m y - 39.83 - LCA-Vision Inc. - Ring The Register - "Sell LCAV and buy ILSE"
Lightning Round - ILSE - m y - 14.11 - IntraLase Corp. - BULL - "Sell LCAV and buy ILSE"
Lightning Round - BVF - m y - 23.61 - BIOVAIL CORPORATION - Ring The Register -
LR Cramer - GENZ - m y - 71.72 - Genzyme Corporation - BULL -
LR Cramer - AMGN - m y - 75.31 - Amgen, Inc. - BULL -
LR Cramer - DNA - m y - 86.95 - Genentech, Inc. - BULL -
LR Cramer - CELG - m y - 53.44 - Celgene Corporation - BULL -
Lightning Round - CME - m y - 355.35 - Chicago Mercantile Exchange Holdings - BULL - "I think this complex of BOT, GOOG, and CME are all going to be up between here and year end. Any pullback is a buy and a GIFT!!!"
LR Cramer - BOT - m y - 130.5 - CBOT Holdings, Inc. Class A - BULL -
LR Cramer - GOOG - m y - 348.65 - Google Inc. - BULL -
Lightning Round - COH - m y - 31.25 - Coach, Inc. - "Don't buy, don't buy" More of an "all aboard below 28"
Lightning Round - SONC - m y - 28.25 - Sonic Corporation - BULL - "It's gonna be 6 months before they recover from the hurricane"
Lightning Round - LU - m y - 3.16 - Lucent Technologies Inc. - BULL - Cramer Owns It - "I'm not gonna recommended people buy it right here until it pulls back"
Lightning Round - GOOG - m y - 348.65 - Google Inc. - BULL - "Ten dollars in earnings power, 50 multiple and you get… stay with Cramer"
Feature - JCI - m y - 68.5 - Johnson Controls, Inc. - BULL - "I think the thing could go to 75"
Caller Question - GPC - m y - 43.52 - Genuine Parts Company -
Guest - SGP - m y - 21.13 - Schering-Plough Corp. -
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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