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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Wednesday March 9.

Bullish Calls:

Noble Energy (NBL): "My take on Noble... is that oil is peaking short-term... this stock could go down 5 points and then it is a buy. If you can take the pain, you will make it."

Global Industries (GLBL): "I think oil is going to have a rocky road, it is going to go up and down, is going to come under profit taking, but if it does, buy buy buy."

MEMC Electronic Materials (WFR): "I think this company is back. It is a play on solar... it had a really big run... then it had a pullback... I'm going to stick by it."

Bearish Calls:

Blackstone (BX): "They are doing really well... I think it could go to $20. I don't know what they own at all... I know the business is hot. Let's hop off of it when it comes to $20. That is too risky... I want something a bit more diversified with a bigger dividend."

Qualcomm (QCOM): "JP Morgan research says tablets are glutted... we have an oversupply of tablets... do we have a glut? People are shooting first and asking questions later... I think it goes down first and then we'll take a look at it."

W&T Offshore (WTI): "Here's the problem. If Obama doesn't allow drilling, then you are going to get drilled with that one... I think that is a shame because that is a great company, but you need the federal government to start left and right, and until then, that stock will not go up."

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Source: Cramer's Lightning Round - Blackstone Is Hot, But What Does It Own? (3/9/11)