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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Tuesday August 10.

Chesapeake Energy (NYSE:CHK)

"How do you know the time is right to stick your neck out for a terrible performer?" Cramer discussed Chesapeake (CHK) which is down 15% since February, but things might be looking up for the company as it increases its oil exposure and has improved its balance sheet. The company beat earnings by 6 cents and increased production by 14%. However, no one seemed to care about the quarter and now the stock is "free falling." Technician Tim Collins says the company established its floor at $21 and can be bought at $22.24. He thinks the upside is capped at $24. However, Cramer thinks Chesapeake's fundamentals will take it above the $24 level because the company "has more oil than people think."

Is This the Big One?

The Dow fell 145 points early in the day to close up down only 55. What caused the fluctuation? Early in the day, the bears were obsessing over negative domestic data about slow business, lackluster housing and a stagnant job market. As the Dow dropped, Cramer said he heard people saying "This is the big one." So why did the Dow move up? News from the rest of the world rescued the index from a devastating drop. Cramer thinks this is a sign that taking the domestic view is harming stocks, but looking at companies in terms of their international exposure can cause investors to feel more bullish.

ADC Telecom (ADCT), Akamai Technologies (NASDAQ:AKAM)

Since ADC Telecom (ADCT) has received a takeover bid, Cramer is on the lookout for a company to replace it on the Mobile Internet Index: Akamai (AKAM), which just ralled 2% on an upgrade. "Akamai Technologies, one of the best plays on making the web faster and more reliable," said Cramer, who compared Akamai to an internet traffic director. The company has dropped from $44.03 before it reported to its current $37.20. Cramer said Akamai is one of those stocks to buy high and sell higher, because it has "massive momentum." Akamai is not just about faster internet but mobile internet, especially since its acquisition of Velocitude on June 10th.

On Akamai's recent conference call, CEO Paul Sagan talked about the "three screen option," that a growing number of consumers are getting internet on their computer screen, television and smartphone screen. Akamai's media and entertainment division, which makes up 43.1% of sales, saw its revenues increase 21.9% year over year, and the company saw an increase in online viewers. Analysts weren't unhappy with the numbers, but discretionary spending on sales personnel and network infrastructure, although necessary, did not win over The Street. With sales up 54%, this spending is a reasonable investment in the company's growth, according to Cramer.

CEO Interview: Sean Boyd Agnico Eagle Mines (NYSE:AEM), GoldShares ETF (NYSEARCA:GLD)

With so much volatility, Cramer suggests buying gold. While one of his favorite ways to play the yellow metal is through Goldshares ETF (GLD), Agnico Eagle Mines (AEM) is one of his favorite gold stocks. While Agnico Eagle Mines has risen 363% in the past 5 years, it has fallen $3 since April. The company recently beat its earnings estimates by 6 cents. AEM will benefit from rising gold prices by opening new mines and increasing production dramatically.

Sean Boyd says the company is only 5 points off of its all-time high, and much of its recent gains are thanks to the wedding seasons in China and India where there is a huge demand for gold. This combined with long-term production growth means that Agnico Eagle Mines is in "the perfect environment." However, Boyd admitted the company faces significant challenges:

This is an unbelievably tough business because you're fighting nature. A lot of the easy deposits have been found. So what you've got is an industry where exploration dollars have expanded exponentially in the last 5 years. There's no real big flagship quality deposits in there, there's very few of them. So, it's a tough industry to grow.

However, Boyd expressed confidence that the company has successfully expanded into new areas while avoiding politically risky regions and has always offered a dividend. He is expecting more cash flows that will enable AEM to raise its dividend.

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Source: Cramer's Mad Money - Stick Your Neck Out for Chesapeake (8/10/10)