Jim Cramer's Real Money Radio Recap 6/14

Recap of Jim Cramer's radio show on Wednesday June 14. Click on a stock ticker for more analysis:

General comment: The Fed and Fluctuation - Cramer says that inflation fears that encourage the Fed to raise interest rates cool off the market. He finds some consolation in the fact that, since gold, oil and copper are falling right now, the Fed might believe that it has done the job, and will refrain from raising rates again in the near future. The Nasdaq has been low for 10 straight days, which hasn't happened since 1984. Shortly after this decline, the market rose again, and Cramer recommends using this down time as an opportunity to buy cheap stocks for the long term.

Down Picks: Boeing (BA), Best Buy (BBY), ConocoPhillips (COP), Chevron (CVX), Goldman Sachs (GS) - Cramer likes Boeing because he has confidence in aerospace, and says that Best Buy is now cheap because it is being sold even by the company's CEO, despite the fact the it enjoyed a fantastic quarter. Oil is going down, although it is stored at the highest levels in 20 years, and China is buying oil in massive quantities. Natural gas is more expensive than oil now, and Cramer guesses that oil could end up in the $50 to $68 range. He predicts that there will be a shortage, and recommends ConcoPhilips and Chevron. Insider selling at Goldman Sachs gives investors a great opportunity to pick up the stock, since the new Treasury Secretary, Henry Paulson, is required to sell all of his shares in GS. "The stock is going down because of Paulson," Cramer said. "Buy small and hope it comes down so you can buy more."

Bullish calls:

Palm (PALM): Cramer says this stock is close to bottoming and is a good buy.
Hess (HES) and Valero Energy (VLO): Refineries will do fine, according to Cramer, who suggests buying Hess in increments touts Valero energy as the best refinery.
Ingersoll Rand (IR): Cramer gives this stock a thumbs up.
Whole Foods (WFMI): Cramer notes that WFMI is performing better than any other stock in its sector and is going down, but in this economy, he still recommends caution.
GameStop (GME): Cramer says this is a winner stock and an good opportunity to make some money before the holiday season. However, he suggests buying it in increments.

Neutral/Bearish calls:

Commerce Bancorp (CBH): Cramer once liked this stock and the sector, but has recently sold CBH. He explains that the banks are not doing well because of worries over the Fed's raising interest rates. He recommends aeropsace instead of banks.
Bear Stearns (BSC): Cramer recommends caution with BSC.
Cardinal Health (CAH): This is a high-multiple stock at $66, and Cramer would not buy it until it reached $60.
Peabody Energy (BTU): Although he likes the company, Cramer says that oil is too cheap right now to consider buying coal.

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