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Stocks discussed on the Lightning Round Session of Jim Cramer's Mad Money TV Program, Tuesday March 29.

Bullish Calls:

General Motors (NYSE:GM): "I know this is going to depress people, but I believe in GM. Could it go lower? Yes... this stock is not going to turn on a dime... it is going to be a long term turn, but it is great value."

Public Service Enterprise Group (NYSE:PEG): "It is a good stock, it has good growth. I want you to hold onto it...it is a terrific little company."

Federal Realty (NYSE:FRT): "I like to buy quality. Federal Realty is the one for you."

Waste Management (NYSE:WM): " I think that is an absolutely terrific stock. I believe in its management. It gives a great return and I would buy it."

Centerpoint Energy (NYSE:CNP): "It is a good company... it is a good utility. I would hold onto it. I know it doesn't have a good yield but it's got better growth. That is a good stock."

Bearish Calls:

Sprint (NYSE:S): "You know I'm a big Dan Hesse [CEO] fan ..you know that I think Sprint is the underdog. However, I think AT&T will consummate its marriage with T-Mobile and it will not be good for Sprint. It is a very tough call."

General Growth Properties (NYSE:GGP): "No that is not as good as Federal Realty."

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Source: Cramer's Lightning Round - GM Will Not Turn on a Dime (3/29/11)