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Stocks discussed on the lightning round session of Jim Cramer's Mad Money TV Program, Wednesday July 28.

Bullish Calls

Boeing (NYSE:BA): "We're able to buy the stock at $65-66 and put it away for a multiple... maybe as long as a seven-year move... because of all the big airline cycles, and the new ones, have lasted seven years. This one, my friend, is...I like it!"

Skechers (NYSE:SKX), Jones Apparel (NYSE:JNY): "They reported after the close and it was monster. It was a beautiful quarter. The stock's trading up in after-hours and, you know what? Let's hold onto it because Skechers is part of the shoe bull market. Like Jones Apparel ... what a number that was today!"

Devon Energy (NYSE:DVN), Chesapeake Energy (NYSE:CHK): "If you want to own a natural gas play, you can own Devon Energy for the balance sheet, or you can own the Chesapeake Energy - Preferred. Aubrey McClennan (Chesapeake CEO) has got a piece of paper that allows you to participate in the above-$40s in the Chesapeake, and pay you more than 5% (dividend yield). That's my way to go."

ON Semiconductor (NASDAQ:ONNN), Nvidia (NASDAQ:NVDA), Citrix Systems (NASDAQ:CTXS): "Look, this is a see-saw... It's a semiconductor that's part of the internet tsunami. Here's what's happened. Right now, semiconductors are in a bear market. I did a whole big piece yesterday about, if it's not in Apple, it's no good. I urge you to hold on. The market's over-reacting to the downside. Those stocks will come roaring back in the fall. I repeat... Nvidia Corporation ... We got the bad news today, which I said for the 1st half. I think the 2nd half is brighter. Good numbers from Citrix Systems. I'm not quitting with tech. But everybody else seems to be."

Bearish Calls

Range Resources: (NYSE:RRC): "Talk about a tortured situation that I think's going to start doing better, when natural gas becomes the fuel. But, right now, I say this in defense of Range... It's got the... it's up 1000%. We know, we got the numbers the other day when we had Mr. Pinkerton on. The stock has come down a lot. I think it's overdone. I like the stock, but remember, natural gas is stuck below $5. No one wants to own the stocks. We are going to have to export the stuff."

McAfee (MFE): "No! Listen, I've got enough problems defending the semiconductors. I'm not going to go across the board, whole hog tech. I don't like the security tech stocks. They are not my cup of tea. What do I like? I like parts that go into smartphones! That's the area I excel in. That's where we've made the big money. That's where we continue to make the big money."

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Source: Cramer's Lightning Round - Out of Range (7/28/10)