Jim Cramer's Lightning Round

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Cramer's 'Mad Money Lightning Round': Wall Street Playbook

TheStreet.com Staff

Here's what Jim Cramer had to say about some of the stocks that University of Michigan students offered up during a "Back to School Mad Money Lightning Round" Tuesday evening from Ann Arbor, Mich.:

Cisco: "This will be the quarter that Cisco mounts the comeback ... two thumbs up."

Wachovia Bank: "Reported a good quarter; it was not a great quarter. I am recommending that you ring the register ... and buy some Wells Fargo."

Pacific Sunwear: "If you want to be in that fashion game, I think this is the beginning of a second move in Abercrombie & Fitch."

Royal Dutch Shell: "I would recommend that you sell the Royal Dutch and pick up on the discount ... Occidental Petroleum. And if it breaks 100 ... we're doin' a 'mon back*."

Diamond Offshore Drilling: "I don't like it as much as the one I own for my charitable trust though, which is Nabors."

North American Palladium: Cramer prefers Anglo American.

Dick's Sporting Goods: "I think it's a House of Pain ... and I want to do a triple sell on Dick's."

Lehman Brothers: "Was down 3 today, was a hideous decline. ... My gift to the Wolverines in the room is a triple play: Lehman Brothers, Bear Stearns and Goldman Sachs."

Lightning Round

Cramer was bearish on Wachovia(WB Quote), Pacific Sunwear(PSUN Quote), Royal Dutch Shell(RDS.A Quote), BP(BP Quote), Diamond Offshore Drilling(DO Quote), North American Palladium(PAL Quote) and Dick's Sporting Goods(DKS Quote).

*For all you home-gamers, a 'mon-back opportunity means Cramer would back up the figurative truck and load up on a stock.

Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here.