3 Plays on Australia’s Rebuild

With the flood waters in northeastern Australia finally receding, a huge rebuild will commence. While Cramer doesn’t like to suggest that viewers profit off such a terrible event, he assumes that the raw costs of everything from copper to wood to aluminum will jump as a result.

See, that reconstruction will involve a ton of those previously mentioned commodities. And it just so happens that the stocks related to these rebuilds have either seen big declines or are already so cheap, Cramer thinks they might be worth a little speculation. Here are his picks:

Weyerhaeuser for wood. This is a play on both lumber and pulp, and Cramer said the stock could trade to $25-$26 easily.

Freeport-McMoRan , operates a mine in nearby Indonesia, for copper. The stock has been hit by worries about everything from escalating mining costs to low-grade ore. Cramer thinks this one is just too cheap, as it’s down about $13 from its high.

Lastly, there’s Alcoa as a play on rising aluminum prices. He thinks that should be a big theme for 2011, and AA is the best way to play it.

That’s Cramer’s guide to the Australian rebuild, though he thinks they should work even regardless of what happens Down Under.

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com