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Recap of Jim Cramer's radio show on Monday July 31 Click on a stock ticker for more analysis:

It's a Gas: Chesapeake Energy (CHK), Devon Energy (DVN) - Cramer says that the natural gas rally is here to stay and is proof that there isn't a large supply in storage. Cramer predicts that CHK will jump from $32.50 to $35 and Devon will go from $64 to $70. He notes that oil is also hot, and that political turmoil, particularly in Nigeria and Iran, and the government's blocking of ethanol should continue to raise prices.

A Good Call: Texas Instruments (TXN), Nokia (NOK), Sony Ericsson and Motorola (MOT) - On a Bloomberg weekend wrap-up, a TXN executive reported that sales were up to NOK, Sony Ericsson and MOT. Cramer believes that this bodes well for cell-phones in an otherwise embattled tech sector.

Retail Risk: J.C. Penney (JCP) - Although gas prices are not causing consumers to cut back on shopping trips, an impending recession could spell trouble for the retail sector. However, Cramer says that those who want cash in on back-to-school sales should invest in JCP.

Bullish calls:

Yahoo! (YHOO): Although there is a delay in the release of its search engine, Yahoo should jump once it is introduced, says Cramer, who believes that Yahoo could go to $31 in about 6 months.
Electronic Arts (ERTS): Cramer prefers this stock to Activision (ATVI), and it is currently inexpensive.
ABB's (ABB): This company is down and reported a monster quarter, but Cramer would not support a call option on the stock.
Sirius Satellite (SIRI): Cramer believes that CEO, Mel Karmazin is finally in control of the company, and that SIRI may reach $5 within the next few days.
Intel (INTC): MSFT's Vista release should help INTC, which Cramer recommends as a good buy because it is cheap.
CSX (CSX): Cramer would buy this stock before it splits, because of its buyback strategy and its stockholder-friendly management.

Neutral/Bearish calls:

Conexant (CNXT-RETIRED): Cramer notes that this company reported a bad quarter and has a poor balance sheet.
Microsoft (MSFT): Although MSFT has been doing better than the rest of the tech sector because of is stock buybacks, Cramer does not think it will move until it announces a date for Vista's release.

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

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Source: Jim Cramer's Real Money Radio Recap 7/31