Jim Cramer's Real Money Radio Recap 6/8

Recap of Jim Cramer's radio show on Thursday June 8 . Click on a stock ticker for more analysis:

General comment: Market Woes

Cramer lamented the volatility of stocks on Thursday, which began to climb and then fell into a steep decline. He noted that speculative stocks, like zinc, copper, and oil are getting hit especially hard because of the Fed's raising interest rates. Cramer believes that the Fed may continue to pursue this policy to the detriment of the economy, and points out that two major condominum projects in New York were cancelled. Ben Bernanke, the Fed chairman, calls decline in the market healthy," Cramer said. "I see nothing healthy about this type of decline."

Buyback Winners: Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), Pepsi (PEP) Sears Holdings (SHLD), and 3M (MMM)

At a time characterized by panicked selling, Cramer notes that it is refreshing to see companies who are staying strong and buying back their own stock. He suggests investing in these stocks while we are "in limbo" and waiting for what the Fed is going to do on June 29.

Apple Blossom Time: Apple (APPL): Cramer suggests taking a look at Apple because the producers of Apple's flat screens, AU Optronics (AUO), is going down, and price of its microprocessors is also declining while demand for Apple products is increasing.

Bullish calls:

Finisar (FNSR): This producer of fiber optic components and subsystems which enable phone companies to compete against cable is up 177% year over year. Cramer would buy rather than sell.
Celgene (CELG): Celgene puts out a medication, Revimid, for blood cancer, and Cramer says, "I think Celgene has been stronger than most."

Neutral/Bearish calls:

Tata Motors (TTM): Although Cramer recently recommended this stock, he notes that it has fallen dramatically because of drastic buying and selling by momentum players.
Nortel Networks (NT): Cramer confessed to having lost a lot of money on this stock, and would not buy it even though it is low.
Cameco (CCJ): Atlhough Cramer likes this company, he suggests waiting it to go lower before buying.

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