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Stocks discussed on the lightning round session of Jim Cramer's Mad Money TV Program, Tuesday August 3.

Bullish Calls

Nucor (NYSE:NUE), AK Steel (NYSE:AKS): "If we want to own steel, the heart and soul, everything good, we're going to buy Nucor... If we want a turnaround, we're going to buy that AK Steel.... though it's moved up nicely since we first recommended it. Both AK Steel on the low end, and Nucor on the high end, are better than letter X."

Sunoco (NYSE:SUN): "If I had to own a refiner, you know I'm going to own Sunoco Inc., which is a breakup story that we have liked for the last... wow, like a 20% move. SUN is better than Valero."

Weyerhaeuser (NYSE:WY): "I think Weyerhaeuser is better than Plum Creek... more growth. Remember, that's a $16-17 name."

Pearson (NYSE:PSO): "That quarter was magnificent... But then I'm all freaked out, because I figure okay, wait a second... some of my friends are going to bring in iPads to charter schools and entirely cut out textbooks. But, you know what? That is so far in the future, I'm going to re-recommend Pearson. I think they're doing a fantastic job. They are a big textbook company."

Range Resources (NYSE:RRC): "Now, remember... natural gas... one more setback today. (Senator) Reid said that the legislation is not going to get through as soon as we thought... But I like your idea of a 'deep in the money' call, stock replacement... stock proxy... "

CoreLogic (NYSE:CLGX): "Oh, I like that... I like that. That's the software company that's involved with real estate... predictive decisions for real estate and mortgages. That's a terrific company! ... I think that's a good stock. And I think that I wish that I had recommended it already, because now the cat's out of the bag, and no one will care."

Bearish Calls:

Valero (NYSE:VLO): "I don't want to own a pure play on a refiner...SUN is better than Valero."

Plum Creek Timber (NYSE:PCL): "PCL is terrific, but we've got competition from Weyerhaeuser Co... I like Weyerhaeuser better than Plum Creek."

Phillips Electronics (NYSE:PHG): "Well, remember, they also have healthcare. There are a lot of different electronics. I'm not going to do that. It's not going to move the needle ... I have to say don't buy, don't buy, don't buy..."

U.S. Steel (NYSE:X): "Nope, nope, nope...Both AK Steel on the low end, and Nucor on the high end, are better than letter X."

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Source: Cramer's Lightning Round - Which Steels Are Better Than the Letter X? (8/3/10)