Cramer's Diagnostics Pick, Pet Blood & Urine... Really (IDXX)

On tonight’s MAD MONEY on CNBC, Jim Cramer came out calling for a move toward being ultra-defensive in what he said is a bear market and fed-mandated recession (here’s our own 2008 defensive stocks with a value mix, although these aren’t all stocks you can just buy and hold) in a brutal market where you main goal has to be capital preservation.  Cramer said this is a vicious overreaction to the downside on Intel in after-hours trading.

One sector that Cramer said is very defensive that can still work is a diagnostics company.  One company that has no government reimbursement risk is in pet care and was up today.  IDEXX Laboratories (NASDAQ:IDXX) is his pick.  He thinks you should wait for a pullback and not buy it tomorrow, but it is a buy according to him.  It also has coming catalysts as a replacement for its blood and urine testing and its sales seem stable.  It has come down from highs and he thinks there could be some estimate bump ups on the stock.  IDEXX Labs (IDXX) shares closed up 1.56% today at

Last night on MAD MONEY Cramer also came out and said he was evaluatingEMC Corp. (NYSE: EMC) as his oversold and overlooked tech pick.  Here was his 2007 active list that is still active for 2008 and still has relevance to his calls today.

Jon C. Ogg
January 15, 2008