Chesapeake Hasn't Peaked - Cramer's Lightning Round (6/24/08)

Includes: AA, BMY, CHK, CX, IPI, MDT, WFC
by: Miriam Metzinger

Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Tuesday June 24.

Bullish calls:

Chesapeake Energy (NYSE:CHK): “I'd buy 25 tomorrow, and then I'd buy 25 for every point down, using a wide scale. Aubrey McClennan runs CHK. It's terrific..”
Alcoa (NYSE:AA): “You've got to buy more AA. The Chinese are now importing aluminum. This stock has come down as part of an overall profit taking...”
Medtronic (NYSE:MDT): “Last quarter was good. I think it's the beginning of a multi-quarter turn…I’d pull the trigger.”
Bristol-Myers Squibb (NYSE:BMY): “ I say it feels like a house of pain, but BMY is really - with that dividend - is a house of pleasure. And I would stick with BMY...”

Bearish calls:

Wachovia (NASDAQ:WB): “I do think WB is a trainwreck... I think that, if it goes back to $20, it's a gift, and you can sell it.”
Cemex (NYSE:CX): “You can't own a cement company into this kind of slowdown... not when the fundamentals are supposed to be so sound, according to our Treasury Secretary…I mean, they know nothing!... Hank Paulson sounds just like Herbert Hoover...“
Intrepid Potash (NYSE:IPI): “…do you really need me to ring the register?... That's enough of a gain. It's up almost 50%, for heaven's sake.”

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