Jim Cramer's Real Money Radio Recap, Aug. 10

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Includes: AMGN, AUY, CEPH, CIEN, CRYFQ, DIS, JCP, KBH, KKD, LLL, NBR, TM, VAR
by: Miriam Metzinger

Recap of Jim Cramer's radio show on Thursday August 10. Click on a stock ticker for more analysis:

Business as Usual: L-3 Communications (NYSE:LLL) and Varian Medical Systems (NYSE:VAR) - The market was not reeling after the news of the attempted terror attack, because "Wall Street accepts... that terrorism is a given," and the fact that the terrorists were caught is a reason to buy, rather than to sell stocks. However, Cramer doesn't recommend buying anti-terrorism stocks, since these companies tend not to have strong fundamentals, with the exception of LLL, which produces luggage-screening machines and VAR, a cargo security play.

Owning Up: Cephalon (NASDAQ:CEPH) - Cramer says he usually knows when the CEOs he hosts are fudging, but he admits that he mistakenly took Cephalon's CEO, Frank Baldino, "at face value" when he said he was sure the drug, Sparlon, would be approved by the FDA, which, as it turns out, wants nothing to do with the drug; "Sparlon is dead," says Cramer. Baldino should have been honest about his uncertainty, but as things are, the stock is down $8, and Cramer won't touch it because he doesn't have any confidence in the CEO.

Stellar Performance: J.C. Penney (NYSE:JCP) and Disney (NYSE:DIS) - Both of these companies reported stronger-than-expected numbers in the face of worries about consumer confidence. Cramer declared that the consumer is "alive and well" and spending money, in spite of gasoline prices. He recommends JCP, which is cheap and is buying back stock, and DIS, which is seeing a rise of visitors to its theme parks.

Bullish calls:

Toyota (NYSE:TM): Cramer reports that TM has been going up for 10 days on the strength of the yen.
Crystallex (KRY):"View it as a call option on gold," he said."If you believe gold will continue to go up, when the company's mine is approved, the stock will double," Cramer said.
Yamana (NYSE:AUY): Cramer says this is a good non-speculative gold play.
Nabors (NYSE:NBR): Cramer calls this stock a "gift" at $33.
Amgen (NASDAQ:AMGN): This stock is "very right" according to Cramer, has a solid buyback strategy and is the least expensive biotech.

Neutral/Bearish calls:

KB Home (NYSE:KBH): This stock has fallen and should go lower, unless the Fed stops tightening. "If you can take that pain, I believe you'll catch a bounce from that level, but otherwise I don't want you to touch it or own it," he said.
Krispy Kreme (KKD): This company does not have a hold on its financials, and in spite of the fact that it has a new CEO, Cramer would not pick it up.
Ciena (NASDAQ:CIEN): Cramer is bearish on CIEN.

More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.

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