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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Thursday December 13.

Bullish Calls:

EMC (NYSE:EMC): "It is one of the largest positions in my charitable trust. It has been a winner. I think it is an inexpensive stock, and a buy, buy, buy."

MFA Financial (NYSE:MFA), Annaly Capital Mortgage (NYSE:NLY): "I saw a downgrade of Annaly. We have to be very careful. What Ben Bernanke is doing with the bond market makes it too hard to figure out what to do with these mortgage REITs."

Bank of America (NYSE:BAC): "People tell me housing is going to be hurt the most by the fiscal cliff. Bank of America is inexpensive. It is not my favorite bank, but all banks are trading together. BAC will do well if we solve the fiscal cliff."

Bearish Calls:

Microsoft (NASDAQ:MSFT): "Microsoft doesn't yield enough to intrigue me. I think it will be a better stock in 2013 at some point, but for now it is in No Man's Land, it is going to stay in No Man's Land, and I don't want to be in No Man's Land."

Arch Coal (NYSE:ACI): "We don't care where a stock has been, but where it is going. I remain bearish on Arch Coal. One of the best calls I ever made was to get out of Arch Coal."

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Source: Cramer's Lightning Round - Microsoft Is In No Man's Land (12/13/12)