Cramer Picks - the Pumps and Pullbacks

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Jim Cramer's "Mad Money"
Cramer was positive on shares of Charles & Colvard (CTHR) last night on his show and sees the company as a way to play the low end diamond market. Cramer said that J.C. Penney (JCP) carries the synthetic Moissanite and it is being tested at Zale (ZLC) and Helzberg, which is owned by Berkshire Hathaway (BRK.A). Cramer does not see the company penetrating the high-end diamond market and recommends shares of Anglo American (AAUK), which owns 40% of De Beers. Responding to a question, Cramer said that the short position in Charles & Colvard, feels like a Hansen (HANS) to him as shorts "don't believe it can get better." Responding to a question, Cramer said that Tiffany (TIF) could be poised for a bounce back and he is "upgrading Tiffany right here, right now." Cramer said last night that an even more precious resource than diamonds is water and sees PowerShares Water Resources (PHO) as a "brilliant way to play the water shortage." Cramer said that PHO contains Suez (SZE) and Veolia Environment (VE) but he would not pay up for shares. Responding to questions, Cramer said that Suez is the way to play the water internationally and that Walter Industries' (WLT) plan to spin off its water business is a good idea.

Cramer's "pick of the week" is Salesforce.com (CRM). Cramer said that while shares are not cheap, they are worth the premium for its growth and that the company has never had an earnings miss.

Nucor (NUE) CEO Daniel DiMicco joined Cramer last night by telephone to discuss steel imports impact on the company's pricing. Mr DiMicco said that he was "very, very confident in the future of his company." Cramer said that the recent downgrade by J.P. Morgan (JPM) was wrong and he believes shares will go higher. Cramer commented on news after the close, he said that Intel's (INTC) Mid-Quarter update was not impressive, he is not impressed with Electronic Arts (ERTS) acquisition of Jamdat Mobile (JMDT) and was positive on Chesapeake Energy (CHK) as the company finally "did their gigantic equity offering that I so feared."