Jim Cramer's Mad Money Lightning Round Picks 5/24

Lightning Round stock picks from Jim Cramer's Wednesday 24 Mad Money TV program. Click on a stock ticker for more analysis:

Bullish calls:

Microsoft (MSFT): 'Vista is on time - meaning it's only one year late. I say one thumb up - one cautious thumb.
Billiton Limited (BHP): 'I had to sell that one for my charitable trust ... the fundies are actually quite good ... it's up so much that I felt that I had to recycle into other stocks that are lower. I'm still pressing the bull button, but ... don't buy, don't buy - until it pulls back to 36-37. That's the largest mineral store in the world, and there's a minerals buyers' strike.'
Pantry (PTRY)
Valero Energy (VLO)
Nordstrom (JWN): 'You would think, with the number of shoes purchased ... the monster buyback, and the unbelievable earnings, it would be going higher... This is 13% grower, selling at 16x earnings. Historically, I've been willing to pay 20x earnings. Everyone's worried about inflation. Do not panic ... Buy, buy, buy!'
Abercrombie & Fitch (ANF): ' ... the best retail quarter, other than SHLD ... I would wait another 5 points and then I would scale buy in.'
Qwest (Q)
Southwestern Energy (SWN): ' ... I think what we can do is scale buying on the way down ... everyone thinks that natural gas is never going to go up ever again. SWN - I want to buy it.'

Bearish calls:

XM Satellite Radio (XMSR): ' ... the chairman comes out and he says 'retail sales are down significantly'...that's bad.'
Delek (DK)
Carpenter Technologies (CRS): ' ... I think that the stock is not safe until it gets to $70.'
NYSE Group (NYX): 'I think that the NYSE buying EuroNext is going to allow them to do a lot of things that we can't do in this country, because we are too highly regulated. I'm blessing the transaction, but ... Don't buy, don't buy. Tough judgment.'
Level 3 Communications (LVLT): ' ... that last acquisition ... was a thing of beauty... the stock cannot go up. You've got to wait until that deal closes, which is very far away.'
Eastman Kodak (EK): ' ... I need you to sell it.'

More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.