Recap of Jim Cramer's radio show on Monday September 11. Click on a stock ticker for more analysis:
9-11: "The Day We Grew Up" - Five years after the attack on the World Trade Center, Cramer recalls the erratic behavior of traders on Wall Street. When the first plane hit no one knew what was going on or whether to buy or sell. After the second plane crashed some were still trading until "the scope of the tragedy began to settle in," Cramer said. "That's the day we grew up on Wall Street," he said. "We learned not to worry about money, but bigger things, like family."
Mr. Ethanol and Hawkeye Holdings
A certain hedge fund manager was trying to persuade Cramer to be bullish on ethanol, but he responded that "he didn't know jack" about ethanol, but had more familiarity with IPOs which "start out strong, but that the pipe will soon be jammed with primary and secondary offerings," he said. "I also said the move would be short-lived and that he should sell every share he had." He suggests staying away from upcoming IPO Hawkeye Holdings and adds that investors should not touch oil but should move into restaurants and cosumer goods which are "hot."
Titanium Metals (TIE): Cramer says that investors will lose a lot of money with this stock.
Dow Chemical (DOW): This stock is a house of pain, says Cramer because he does not see a great new demand for plastics.
Peabody Energy (NYSE:BTU): Oil is in a free-fall, according to Cramer, who says that coal and oil is not hitting bottom any time soon.
Lucent (LU) and Alcatel (ALA): Cramer doesn't think that the proposed merger between these two companies is going to work out "It's a waste of your time and money," he said.
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