Cramer's Lightning Round - Buy Into Gold's Weakness, But Not All at Once (12/8/10)

 |  Includes: BAC, GLD, JPM, LMT, MIPS, WFC
by: Miriam Metzinger

Stocks discussed on the lightning round session of Jim Cramer's Mad Money TV Program, Wednesday November 17.

Bullish Calls:

SPDR Gold Trust ETF (NYSEARCA:GLD): "Interest rates are going up...there is a correlation...rates go up gold goes down...but we don't think of gold as a commodity here, we think of gold as a currency. I am urging people who own no gold, this is their opportunity to build 10 to 20% of their net worth in gold. This a very strong call by me..and every time people see gold down $20, $30 they freak out...if you don't own gold, tomorrow you buy 25% you buy it on the way down...I like gold. I want you to buy it into the weakness, but not all at once because it could continue to go down."

MIPS Tech (NASDAQ:MIPS): "I think this is an internet tsumami play, and we can't get enough of those..."

Wells Fargo (NYSE:WFC), JP Morgan (NYSE:JPM), Bank of America (NYSE:BAC): "WFC has more is the most unencumbered group of houses in the world (in other words, it owns them). I am the only person that now thinks housing is going to be worth more in 2012 than it is now. If you agree with me, WFC is the best of the bank stocks, then Bank of America then JP Morgan."

Bearish Calls:

Lockheed Martin (NYSE:LMT): "First of all, this is a great company, but it is in an industry in the crosshairs of Washington...they want to get this defense budget down and I think LMT is going to get hurt, so I can't recommend it as much as I'd like to because it is an accidental high yielder."


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