Chinese Market Annihilated - Cramer's Lightning Round (9/24/08)

by: Joan Wickham

Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Wednesday, September 24.

Bullish Calls:

Research In Motion (RIMM) -- “I’ve liked Research In Motion since the show began and I don’t trade it. It is one of the few tech stocks I want to own along with Apple (NASDAQ:AAPL). Once the market turns, so should these two stocks. "
Chemical & Mining Co. of Chile (NYSE:SQM) -- “This is a fertilizer play. I believe in its core nature. I recommended it too high. I can’t cut and run because it’s too cheap."
Ultra (NYSE:UTL) & Equitable (NYSE:EQT) -- “The cheapest in the oil patch are Ultra Petroleum and Equitable Resources. They have the most leverage."
Comcast (NASDAQ:CMCSA) -- “I would buy Comcast. That company has. I am bullish on Comcast at under $20 a share."
Frontline (NYSE:FRO) & Nordic American Tanker (NYSE:NAT) -- “These are the only two stocks I recommend in the shipping industry."

Bearish Calls:

Exco Resources (NYSE:XCO) -- “Exco represents another good value in the oil patch but Exco is not the best."
Ford (NYSE:F) -- “Ford is too speculative for me to recommend.”
Gushan Environmental Energy (NYSE:GU) -- “This is a biodiesel play from China. The Chinese market has been completely and totally annihilated. China has disappeared from the face of the earth when it comes to being an economic power.”
James River Coal (JRCC) -- “There is a big secondary going on. This is another coal stock that I won’t recommend."
America Movil (NYSE:AMX) -- “When Latin America makes its comeback, this stock could lead the charge. It is not too early to get into America Movil."
Diana Shipping (NYSE:DSX) -- “This is not one of the two stocks I recommend in the shipping industry right now."
NYSE Euronext (NYSE:NYX) -- “I don’t like the business model…I can’t recommend the stock. I really like their people though and I feel bad."

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