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Stocks discussed on the lightning round session of Jim Cramer's Mad Money TV Program, Tuesday August 24.

Bullish Calls:

Citigroup (C): "I am familiar with it... I'm familiar with the situation. I think that you have to wait until the government is finished selling Citigroup, before we see the full power of it. But it is, on a price-to-book basis, the most undervalued bank in America. And even better, it's only 50% in America. So I remain loyal to Citi. I think Vikram Pandit [CEO] is doing a terrific job. It remains my favorite speculation. I'm not backing down just because the price action's bad. I say buy Citi. I say stick with Citi. I say stick with Vikram Pandit."

Ford (F), Ford Preferred (F.PS): "Well, you know what... I like the Ford Preferred more (than Ford regular) and, just so we know, almost everybody who is owning stocks right now is in the house of pain. I'm not backing away from Alan Mulally, but I do like the preferred more than I like the common (stock)."

Bearish Calls:

Research in Motion (RIMM): "Sell, sell, sell!... This button was invented for RIMM... sell, sell, sell..."

Walgreen (WAG): "Can you tell why you like the company? Why, because you like shopping there? What do you like about it? I need some insight. Here's the problem... I've got the insight. Walgreen, the sales are no good... CVS is in a dogfight with them... I've got to tell you, as much as I like the Duane Reade acquisition... sell, sell, sell... painful, but I've got to say no!"

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Source: Cramer's Lightning Round - The Most Undervalued Bank in America (8/24/10)