Jim Cramer's Real Money Radio Recap 8/01

Recap of Jim Cramer's radio show on Tuesday August 01. Click on a stock ticker for more analysis:

Riding the Waves: Garmin (GRMN) and Baker Hughes (BHI) - Cramer discussed strategies for handling a volatile market and for benefitting from highs and lows. Garmin, for instance, was up on Friday, but is down $5 today. He suggests selling a bit of a stock during brief rallies and doing homework. Cramer gives the example of BHI, and says that those who know about this stock would pick it up, since it is down $1.

Mirror Image: Wells Fargo (WFC) and Countrywide Financial (CFC) - Cramer says that these are nearly identical banks, with similar growth rates and shrewd risk management. However, CFC sells at half the price of WFC, and Cramer would buy CFC.

ABB (ABB), Peabody (BTU), and CSX (CSX) - Cramer says that infrastructure is down because it is unfairly lumped together with housing. He suggests picking stocks which are involved in building utility plants, such as ABB, whose great quarter went unnoticed , as well as coal plays, like Peabody (BTU) and railroads, like CSX (CSX).

Bullish calls:

Valero Energy (VLO): Cramer praised VLO's quarter and guidance, saying that it is too cheap to sell for long-term investors, but those who bought it a few days ago at $65 could go ahead and cash in.
Boeing's (BA): Cramer likes this company's conference call and says that it is an inexpensive buy.

Neutral/Bearish calls:

Harrah's (HET): After looking at HET's conference call, Cramer comments, "It is cheap, but that's not enough," he said. "You need a catalyst, and I don't see one."
Hansen Natural (HANS): Although this company has grown, the market is no longer safe for this stock, and Cramer suggests picking up some HANS when it drops.
Finisar (FNSR): This stock is low, but is still up 150% year over year. In any case, Cramer says he is bearish on stocks like this right now.

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.