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Miriam Metzinger submits: Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Tuesday June 5. Click on a stock ticker for more analysis:

Bullish calls:

Aruba Networks (ARUN): 'Blowout quarter last week ... How about we wait for a pullback, before we back up the truck... If it goes below $20, you've got to be willing to pull the trigger.'
Merrill Lynch (MER): ' MER is not going to have any problem going over $100.00 ... Because MER is incredibly well-run. The sub-prime problems are in the past ... That stock needs to go higher right now. Buy, buy, buy!'
Level 3 Communications (LVLT): 'I think this stock is going to finish the year - yes, and if I may be so bold... - at between $7 and $8. So any one of these declines is just another opportunity to load the boat up with LVLT.'
Wal-Mart (WMT): 'I got behind WMT in the mid-$40s, and I am not backing away now at $50. It's got much more upside.'
Alcoa (AA): ' I think Alcoa and Alcan are going to merge... You know I think that AA is not going to be public in a year if they don't get that deal...'
Alcan (AL (defunct))
Dominion Resources (D): 'I think that one may be a better diversified utility company than yours (Targa Resources). So let's make that switch.'
Research In Motion (RIMM): 'That has the better fundamentals (than Palm.)'
Freeport-McMoRan (FCX)
Qualcomm (QCOM): 'If you want to be in a semiconductor play that has to do with cell, I will send you to QualComm.'
BHP Billiton (BHP)
CVRD (RIO): ' ... among the cheapest mineral stocks ... It's just too darn cheap, too well-run and, ever since they were able to buy the largest nickel company ... this thing wreaks of monopoly!'
Barnes & Noble (BKS): 'I actually like very much the Barnes & Noble quarter, and they're buying back a lot of stock.'

Bearish calls:

Target (TGT): ' ... sell, sell, sell... let's take a little off the table, and go into Wal-Mart.
Aluminum Corp. of China (ACH) 'The Chinese market is overheated. I liked this stock initially as a dividend play. Now that it only yields 2%.'
Targa Resources (NGLS)
Palm (PALM): 'You got lucky. I need you out of PALM. I would rather see you in Research In Motion ... You just lucky with that Elevation bid... I want to head to the hills, PALM. Sell, sell, sell!'
Scholastic (SCHL): 'Oh, way too inconsistent. It's really hurt a lot of people.'
Tesoro (TSO): 'I want you to sell that. That move has peaked. Those margins cannot be sustained ... '
Valero Energy (VLO): 'I want TSO and VLO sold.'
RF Micro Devices (RFMD): 'I am not going to bless RFMD. Not on this show. No way ... I understand the speculative desire for RFMD, but I am not going to tell you to stay with it.'

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Source: Jim Cramer's Mad Money Lightning Round Picks, 6/5/07