Jim Cramer's Real Money Radio Recap, Sept. 5

by: Miriam Metzinger

Recap of Jim Cramer's radio show on Tuesday September 5. Click on a stock ticker for more analysis:

Oil Aboard: Chevron (NYSE:CVX) and Devon Energy (NYSE:DVN) - A major discovery of oil in the Gulf of Mexico not only means big gains for CVX and DVN, but will bring the entire market up, according to Cramer who says that he does not envision a large-scale replacement for oil in his lifetime. "The way for oil companies to move their stocks up is to find oil," Cramer said. "These finds will put in a ceiling on oil," which will ease investor anxiety.

Not Just A Flash in Japan: Asahi Tec and Metaldyne - "the Japanese are back," and "they are in acquisition mode," Cramer says, commenting on Japanese car manufacturer, Asahi's, purchase of the U.S. company, Metaldyne, which makes engine parts. Cramer believes that this trend will continue as the Japanese economy recovers.

Sears' (NASDAQ:SHLD) Shares- Cramer sees SHLD's buyback of 2 million shares last month as a sign of the company's confidence and believes that the stock will go higher. "If you don't own it, you are going to miss out," he said.

Bullish calls:

Yamana (NYSE:AUY) and Freeport (NYSE:FCX): Cramer likes both of these gold plays, and prefers AUY.
Starbucks (NASDAQ:SBUX): 'It is not a damaged company, but a damaged stock, and damaged stocks come back,' Cramer said.
Qualcomm (NASDAQ:QCOM): Cramer likes this stock, although Nokia (NYSE:NOK)and Motorola (MOT)believe that QCOM charges too much. The company lowered expectations when it dropped to $32, but Cramer commented, "when you lower expectations, you can beat expectations. " The stock was recently at $38.95, and Cramer recommends selling half and to "let the rest run."
General Motors (NYSE:GM): Cramer believes that GM could soon go to $40.

Neutral/Bearish calls:

Costco (NASDAQ:COST): Cramer can 't find an explanation for COST's missing its quarter so badly. He suggest holding on to the stock, but not buying it.

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

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