The day before Christmas was again somewhat mixed on light volume.

Most investors have been on the sidelines, taking in what was a horrific year in the market.

Today is being called the "new Black Friday," with many saying today could help the retail season out, as prices are being slashed to bring out the consumers in force.

Time will tell how all these players did, including the big players, such as Wal-Mart (WMT) and Best Buy (BBY).

With this in mind, let's take a look at the most searched stocks on TheStreet.com from the prior trading day and find out what Jim Cramer's take is on them.

These stocks could be in the news for a number of reasons. Some require immediate attention; others may not. Regardless, it never hurts to hear what Cramer (or any of the other professional investors on the site) has to say about them. The key is to gather as much information as you can in order to make the most informed investment decisions you can.

Despite the mixed day on Wednesday, we'll kick it off with Cramer's take on drug stocks:

"The year of the drug stocks is almost upon us and I suggest a barbell approach: Pick a high-yielder -- maybe Bristol-Meyers Squibb (BMY) or Eli Lilly (LLY) -- and match it with a fast grower -- Gilead (GILD) and Celgene (CELG) are my two faves.

The world is yield-starved, and that will help buoy any of the high-yielders. The president is benign, the pipelines are getting better and the dollar will crack universal precept now, so the earnings -- particularly the earnings compares -- will get better and better as the year progresses.

This rally is happening right now, which is a great sign for next year because it is clear that big money has decided this is a big investible area and because managers are at last getting that dividends protect principal. Plus there are no hedge funds in this group, so you can bet they won't get killed when the gating ends in 2009. You can see this happening with one look at the charts. Check out the Amex Pharmaceutical Index (DRG) for more evidence.

Do not be left behind because the move is in its infancy. No debt to speak of, wind at back, political environment not bad, FDA ready to loosen?

What's not to like?"

For more of Cramer's take on Wednesday's top-searched stocks, including Allscripts-Misys Healthcare Solutions (MDRX), Steel Dynamics (STLD), Disney (DIS) and Las Vegas Sands (LVS), check out the latest Cramer’s Take portfolio on Stockpickr.

Posted on Dec. 26, 2008