Jim Cramer's Real Money Radio Recap 7/18

Recap of Jim Cramer's radio show on Tuesday July 18. Click on a stock ticker for more analysis:

Down in the Dumps: Eaton (ETN), Grainger (GWW), JC Penney (JCP), Target (TGT), Abercrombie & Fitch (ANF), Best Buy (BBY), Intel (INTC), Cisco (CSCO), Microsoft (MSFT), Caterpillar (CAT), 3M (MMM) and Ingersoll-Rand (IR) - Eaton, which makes industrial products, and Grainger, a blue-chip electrical stock, both admitted that they are getting weaker. Cramer blames the Fed's interest rate hikes, and doesn't see a bright future. Cramer's favorite retail stocks, such as JCP, TGT, ANF and BBY have all fallen, and INTC, CSCO and MSFT still haven't recovered. Cramer has more faith in the industrial sector and thinks that CAT, MMM and Ingersoll-Rand could jump after taking another dip.

Bright Spots: Glaxosmithkline (GSK), Coca-Cola (KO), PepsiCo (PEP), Johnson & Johnson (JNJ), and United Technologies (UTX) - Cramer still has faith in the market, and companies like GSK, KO, PEP, JNJ make products everyone needs, regardless of the economy. Cramer singles out UTX as the only tech stock he would buy, because it is well-run, and much of its activity is overseas and remains unaffected by fluctuations in the U.S. market. UTX is also involved in defense, aerospace, infrastructure, and commercial real estate, which are all booming. On a side note, Cramer advises holding on to oil stocks, since they will go higher.

Bullish calls:

Halliburton (HAL): Cramer dismisses criticisms of Haliburton, saying that he would suggest staying with the stock, even though the oil-services sector is in decline.
Glaxosmithkline (GSK): This is one of Cramer's favorite defensive stocks; "I think people don't understand how really well run [Glaxo's] business is."

Neutral/Bearish calls:

Ciena (CIEN): Cramer says that this is a great company, but it has been hurt by a lack of spending in the telecommunications sector and Prudential's advice to sell Verizon (VZ).
Alcoa (AA): This company reported a great quarter, but Cramer would stay away from commodities until the Fed stops raising interest rates.
Freeport Copper (FCX): Althought FCX reported the best quarter Cramer has seen since the beginning of earnings season, he does not think this is a good sector now, but prefers defensive stocks, and adds that FCX's sudden fall after a brief gain illustrates this point.

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

Get Cramer's Picks by email -- it's free and takes only a few seconds to sign up.