Lightning Round: Amgen, UPS, NYMEX and More

Mercado Libre : “The highest growth stock I know.” Cramer would buy MELI because it doesn’t trade off the Fed.

Applied Materials : It might look like it has bottomed, but Cramer urged caution. He doesn’t want to look at AMAT until 2009 when he thinks its solar business will ignite.

Tyco : Don’t buy Tyco, Cramer said.

Amgen : Now Cramer’s least favorite biotech on increased competition and news of government investigations.

United Parcel Service : Cramer would buy it on a scale on the way down. Wait until it hits $65 before pulling the trigger, he advised.

Cypress Semi : The conventional wisdom seems to be that SunPower , which CY is heavily invested in, is yesterday’s news. Not so, said Cramer. He would buy CY before it reports next week.

Limelight Networks : Be careful in this space, Cramer warned.

Inverness Medical : Cramer scaled out of Inverness to a core position in his charitable trust because it’s a high-multiple stock that isn’t usually favored in this environment. He would buy it back again below $50.

NYMEX Holdings : Time to take profits. People are waiting for a takeover that looks less and less likely, according to Cramer.

Transocean : Because Schlumberger is in a rough patch, RIG could get hurt. But it’s still a stock that can be owned here, Cramer said.

Jim's charitable trust owns Transocean and Inverness Medical.

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