Cramer said Ciena (CIEN), which makes optical switching equipment, is one of his favorites, and is perhaps the only one outside of Cisco that makes the grade for more serious investment.

"I'm going to send you to CIENA Corp (CIEN) or Cisco Systems (CSCO)." "Cramer's 'Mad Money Lightning Round,'" 6-15-09

gains from wireless and supplier of att which does not hurt.

I know that I have stressed the need to own Tekelec (TKLC) and On Semiconductor (ONNN) and Starent (STAR) and Skyworks (SWKS) plus Ciena (CIEN) on this trend. I know this group has acted so badly as to take your breath away. It is almost as if there is one seller who keeps hitting the darned thing. The seller seems to have vanished today.

Now I think we are advancing to tech spending related to telecom. When I see this Verizon (VZ) sale of lines for $8 billion to Frontier Communications (FTR), it reminds me that Verizon spent very little on capex this last quarter, and I think that could change, which is why I like the Tekelecs (TKLC) and the Starents and perhaps the Cienas (CIEN).

bought cheap as spec play - good cash on books

“I’d keep a close eye on these two,” he says largely due to recent call buying. "Both could be consolidation plays (or takeover targets). And, at current valuations, both look compelling.”

JJC pick.

JJC pick.

Cramer said semiconductor maker Ciena (CIEN) is at the top of his speculation list. The company recently reported disappointing earnings and fell a staggering 20% in a single day. Cramer said the point to note is that after such a huge loss, not a single analyst downgraded the name. "The estimates have already been cut," he said, with all of the bad news already priced into the stock.

this is a dog with fleas

lost money

Too expensive.

untrustworthy management