October 23rd - IFF

Cramer started out talking about vanity stocks and said Medicis Pharmaceutical Corp. (MRX) and Allergan Inc. (AGN) were worth owning, but said to stay away form spin-offs done by leverage buyouts and said the major cosmetic companies aren't good buys either. But the main recommendation from the segment was International Flavors & Fragrances Inc. (IFF). IFF closed today $41.67 so outside of what I have found to be the best price range for shorting of a Cramer recommendation.

Next Cramer looked at the ugliness at Caterpillar Inc. (CAT) and Schlumberger Ltd. (SLB) last Friday and said people shouldn't be watching just the business cycle. And although CAT had bearish things to say Cramer said it could go back to its old highs if held for 6 months. CAT closed today at $60.42 and has a 52-week high of $82.03. Again, too exensive here. Cramer was bearish on SLB and said the sector is out of favor.