Cramer's Lightning Round - Bank of America Is a Dead Stock (5/11/11)

by: Miriam Metzinger

Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Wednesday May 11.

Bullish Calls:

Mercer (NASDAQ:MERC): "Very good, very steady concern, inexpensive... if it stays down here, some company is just going to buy it."

Limited (LTD): "I do like it ... absolutely... however, you have a chance to play with the house's money. Take all the cash you put in and play with the house's money... let that sucker run... It is going to $50, and I want you in it and not out."

Bearish Calls:

Bank of America (NYSE:BAC): "Every day I say I am so glad we cut our position in this stock. It is a dead stock. It will be dead for a long time... it is inexpensive compared to book value, but I see no catalyst. You will have to wait a year for BAC."

Clean Energy (NASDAQ:CLNE): "A big spec name we believe will one day come into its own. A chain of natural gas stations can eventually be profitable in this country... but the legislation is on hold... You have to stay on hold with that one... without government legislation, even though the company is doing okay, it doesn't have the catalyst that makes me say with confidence that you can buy it."

Southern Copper (NYSE:SCCO): "We're not going to recommend copper until the Chinese have finished their tightening or are at least further along. While I like the stock on a valuation basis... copper is my one main worry in this market, and I can't recommend a copper stock right now."

Novagold (NYSEMKT:NG): "First of all, the gold companies are going down versus the physical metal... that is why I recommended bullion ahead of the stocks. It (Novagold) is overdone to the downside, and it could continue to get overdone... they are all going down... doesn't matter if it is good or bad. I believe in that story long-term. If it goes blow $10, you can join me in buying it."


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