Cheap Oil Related Stocks - Cramer's Lightning Round (8/20/08)

by: Joan Wickham

Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Wednesday, August 20.

Bullish Calls:

Smith International (SII) --This cheap oil-drilling stock is a buy. Smith is a winner.”

BB&T (NYSE:BBT) -- The stock is up and it’s going higher. This is one of the few banks whose conservative strategies allowed it to sidestep most of the credit mess we’ve seen. This is a well-run bank.”

BP (NYSE:BP) -- I like the company’s 5.8% yield. But the stock’s cheap because oil is down right now, and that alone might be a reason to buy BP.”

Home Depot (NYSE:HD) -- The recent quarter impressed me. I think they’re making a comeback. I am endorsing, right here, right now, a buy of Home Depot.”

Rowan (NYSE:RDC) -- “Rowan is just too cheap. Be alert for a possible sell-off after two days of positive action for this stock. But overall I am bullish on oil-related names (other than refiners) right now.”

Almost Family (NASDAQ:AFAM) -- “I like home nursing…nice part of the economy. Almost Family is a buy.

National Oilwell (NYSE:NOV) -- “This stock should go to $82. It’s at $74 and change now.”

Bearish Calls: 

VMware (NYSE:VMW) --I’m disappointed in VMware…that thing has just been one disaster after another.”

EMC (EMC) --EMC which spun off VMware and still owns a significant piece of the company might be a play here. However my charitable trust recently sold its EMC holdings.”

Central European Media (NASDAQ:CETV) -- “Russia isn’t the place to invest right now. So stay away from CETV.”

Neutral Calls:

ICON (NASDAQ:ICLR) -- "I don't know it well enough to make the call."

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