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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Tuesday August 4.

Bank of America (NYSE:BAC)

In spite of CEO Ken Lewis' mistakes, Cramer predicts Bank of America, "could rally another 50%...and maybe even double." This would be in addition to the 400% move the stock has already made so far this year. Why? Cramer thinks Bank of America is undergoing "volatility expansion"; it was stuck between $12 and $13 for several months, but recently hit $16, and is making its way to $25, according to Cramer. He also likes the fundamentals.

Bank of America is a cyclical play which will recover along with the economy, according to Cramer. This "dominant retail banking player in this country,” which holds 12% of U.S. deposits is expanding its real estate exposure to prepare for the rebound in housing prices. Cramer applauded the bank's "deep talent pool," which transcends the difficulties it has with the CEO, and says Bank of America is the best way to play economic recovery.

Apple (NASDAQ:AAPL), Joy Global (JOYG), Wynn Resorts (NASDAQ:WYNN), Potash (NYSE:POT), Mastercard (NYSE:MA)

As long as fund managers need to buy, the market is going to seem resilient, according to Cramer. The Dow dropped on Tuesday, but this decline didn't last long before money managers, who sat on the sidelines in bearish mode for too long, found ideal entry points for Apple, Joy Global, Wynn Resorts, Potash and Mastercard. As long as money managers won't let the market drop, Cramer thinks the bulls will remain in control.

Go North, My Young Man: TransCanada (NYSE:TRP)

“If you think the United States is headed off the rails,” Cramer said, “I want you to take a trip to the Great White North and join Cramer’s foreign legion with TransCanada.” Cramer likes this Canadian company because of its 5% dividend, immunity to natural gas prices and its huge pipeline project scheduled for 2010. TransCanada is the largest natural gas pipeline company in North America and the leading private power company in Canada.

Its major project, the Keystone Pipeline, is expected to pump 1.1 million barrels a day from Alberta to Texas; 83% of the pipeline's capacity has been contracted out for the next 18 years. The business is pretty well-hedged and the majority of its output has been sold forward next year.

Cramer's Outrage: Ken Lewis Should Pay

While Cramer likes Bank of America's stock, he thinks CEO Ken Lewis has a lot of nerve to expect shareholders to cover the $33 million settlement fee for misleading investors about the Merrill Lynch merger. Why should shareholders be punished twice when Ken Lewis ought to pay for his own mistakes?

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Source: Cramer's Mad Money - Bank of America Will Double (8/4/09)