Nixing Onyx - Cramer's Lightning Round (6/11/08)

Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Wednesday June 11.

Bullish calls:

Molson Coors (TAP): "I've been dead right about TAP all the way, and I want to stick with TAP... I think TAP's a winner."

Costco (COST): "I just don't see any upside in any of the retailers, with the exception of Costco and Wal-Mart."

Wal-Mart (WMT)

Energy Conversion Devices (ENER): "That is one good alternative energy stock! I missed it. My bad."

Apache (APA): "I thought the stock yesterday was such a buy when it got knocked down. Now we've got to wait for a little pullback... please."

Kaydon (KDN): "Excellent "new technology" stock. I stand four square behind it."

Petroleo Brasileiro (PBR): "It's come down hard. I want to pull the trigger on PBR right here! "

AES Corp (AES): "Dirt cheap! I'm a buyer!"

Bearish calls:

CSX Corp (CSX): "I can't recommend the stock, because, if they fail, they'll blow the stock out. But... Michael Ward is one of the best CEOs in the country…That hedge fund should just drop it... drop it and let Michael Ward run that railroad!"

Royal Bank (RBS): "I wouldn't touch this thing with a 10-foot pole."

Washington Mutual (WM): "WM is one of the worst-run companies I have ever seen in my whole life, and they have left that company in the hands of Kerry Killinger, and it is an outrage."

Home Depot (HD): "I do not want to own HD... sell, sell, sell!... and I don't want you buying any more."

Onyx Pharmaceuticals (ONXX): "I already stumbled on ONXX. I liked it. I thought that its big drug would have many more uses. It didn't."

Hudson City Bancorp (HCBK): "HCBK's got a much better balance sheet than the other guys, but the whole cohort is being pulled down. I am bearish…"

Trina Solar Ltd (TSL): "I am not touching any of these solar stocks. I just don't like their models."

Intercontinental Exchange (ICE): " …it is difficult for me to get behind these. They are trapped, because they are financials."

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Comments

[OJO Zafado]

Watch for another chance to get the AES PfC below $47.50. In the mean time own the common. They are all over the world. They just got spanked in Kazakstan or some other Stan on a power plant appropriation. See if the turds can keep it running? AES and BG Group the British energy conglomerate are in LNG power plants and projects all over the place. AES will rock. Add some of that preferred on price weakness to get some income stream in line with the common appreciation potential. The "C" is well past it's call date, so a purchase below the $50 par price means a good dividend with a great opportunity for capital gain.