A caller asked about Martha Stewart Living Omnimedia (MSO - Get Report). Cramer said MSO is trading down because the reviews from the first of her two new TV shows have been "not positive." However, Cramer believes her second new show due out later this fall will be better received. He "remains a buyer."
In his weekly "Stump Cramer" segment, in which listeners ask about obscure and not-so-obscure stocks, Cramer commented on Tarrant Apparel Group (TAGS) and Sherwin-Williams (SHW - Get Report). Cramer said Tarrant is a "pretty good" company, and he doesn't "understand why the stock is so low." Sherwin Williams is a "fabulous stock" with "conservative" management.
Commenting on Bear Stearns (BSC), which reported earnings Thursday, Cramer said Bear reported a "beautiful quarter," and he wished he could buy the stock.Cramer also reiterated his bullishness for Lucent (LU), saying the company has "oodles of cash" that is helping the company turn around. He believes the stock could trade to $5 from Thursday's $3.07. Cramer said the tech rally in cell phones, video games and big screen TVs is "pausing." We're in the "toughest part" for the next couple weeks, he said. Furthermore, he is "cautious" on the market and is keeping a hefty position in oil stocks. Cramer said he has the "largest cash position I've ever had" since starting his charitable trust portfolio. Finally, Cramer said Georgia-Pacific (GP) is now confirming what Cramer has been saying, that there is a lumber shortage. Weyerhaeuser (WY - Get Report), Georgia-Pacific and Plum Creek Timber (PCL - Get Report) are "all up in a so-so day." Cramer is bullish on all three. *For all you home-gamers, a 'mon-back opportunity means Cramer would back up the figurative truck and load up on a stock.