Beaten Down Buy - Cramer's Lightning Round (8/14/08)

by: Joan Wickham

Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Thursday, August 14.

Bullish Calls:

CVS Caremark (NYSE:CVS) -- “CVS is a buy here.”

Walgreen (WAG) -- “I like Walgreen’s even more than CVS.”

Hudson City Bank (NASDAQ:HCBK) -- “You will always find Hudson on my buy list.”

Nokia (NYSE:NOK) -- “I like Nokia but Qualcomm (NASDAQ:QCOM) is a better stock to own.”

GrafTech International (GTI) -- “I think it’s overdone to the down side. GrafTech is a buy at these levels.”

Central European Distribution (NASDAQ:CEDC) -- “Despite Russia’s recent scuffle with Georgia Central European is OK to own.”

Chesapeake Energy (NYSE:CHK) -- “I believe that natural gas is so beaten down that you have to own a natural gas company…I think you should buy some Chesapeake.”

Bearish Calls:

The Pantry (NASDAQ:PTRY) --CBRL Group (NASDAQ:CBRL) is a better pick.”

Amedysis (NASDAQ:AMED) -- “Too hard. Don’t buy.”

Smith & Wesson (SWHC) --The Smith & Wesson trade has come and gone and I am never looking back.”

Inverness Medical (IMA) -- “This is a diagnostics play starting its comeback. I don’t recommend it yet. Don’t buy.”

Hologic (NASDAQ:HOLX) -- “This is another diagnostics play starting its comeback that I don’t recommend yet. Don’t buy.”

Zoltek (NASDAQ:ZOLT) -- “Don’t buy Zoltek. Go with Owens Corning (NYSE:OC) instead.”

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