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Here's what Jim Cramer had to say about some of the stocks offered up by callers on the "Mad Money Lightning Round":
Best Buy (BBY - Get Report): "I think it's 8 points off its high." If it gets analyst downgrades because of its profit warning, "that's you're time to do a 'mon back* ... Don't mess with best of breed!"
IntraLase (ILSE): "The shorts are leaning on this thing ... I think it's a buy here, and I'm sticking my neck out."Ameritrade (AMTD - Get Report): "Two thumbs up!" *For all you home-gamers, a 'mon-back opportunity means Cramer would back up the figurative truck and load up on a stock.
Lightning RoundBullish Cramer was bullish on Best Buy (BBY - Get Report), Prudential Financial (PRU - Get Report), MetLife (MET - Get Report), First Marblehead (FMD), XM Satellite Radio (XMSR), Sirius Satellite Radio (SIRI - Get Report), IntraLase (ILSE), Aramark (RMK), Alliant Techsystems (ATK), Ameritrade (AMTD - Get Report), Charles Schwab (SCH), Distributed Energy Systems (DESC), Capstone Turbine (CPST - Get Report), Research In Motion (RIMM), TXU (TXU) and Schlumberger (SLB - Get Report). Bearish Cramer was bearish on EarthLink (ELNK - Get Report), Novell (NOVL), Hudson City Bancorp (HCBK - Get Report), Sigma Designs (SIGM - Get Report), RadioShack (RSH), Medarex (MEDX), Restoration Hardware (RSTO), Red Hat (RHAT), Palm (PALM), Orbital Sciences (ORB - Get Report), Seagate Technology (STX - Get Report), Nektar Therapeutics (NKTR - Get Report) and Pfizer (PFE - Get Report).
Interested in more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here. It's a series of articles from Cramer on how to become a better investor. The following table lists some of the rules that Cramer dissects.
|1.||Pigs Get Slaughtered||2.||It's OK to Pay the Taxes|
|3.||Don't Buy All at Once||4.||Buy Damaged Stocks|
|5.||Diversify to Control Risk||6.||Do Your Homework|
|7.||Don't Panic||8.||Buy Best-of-Breed|
|9.||Defend Some Stocks||10.||Don't Bet on Bad Stocks|
|11.||Own Fewer Names||12.||Cash Is for Winners|
|13.||No Regrets||14.||Expect Corrections|
|15.||Know Bonds||16.||Don't Subsidize Losers|
|17.||No Room for Hope||18.||Be Flexible|
|19.||Quit When Execs Do||20.||Patience Is a Virtue|
|21.||Be a TV Critic||22.||When to Wait 30 Days|
|23.||Beware the Hype||24.||Explain Your Picks|
|25.||Find the Bull Market|
|Check back for more of Cramer's Rules|