Cramer's 'Mad Money Lightning Round': Peabody Pleasing

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Here's what Jim Cramer had to say about some of the stocks that callers offered up during the "Mad Money Lightning Round" Friday evening:

Ultra Petroleum: "Ultra is a winner. I'd buy more right here."

Travelzoo: "I want you to be very careful. ... One-third of that stock's float is sold short. ... When TZOO delivered a good quarter, there was panic by some of the shorts." But Cramer said "Don'tBuy. ... At 33, I would feel much better."

Peabody Energy: "It's the best of breed. ... I think par [100] can be a realization for Peabody."

Finisar: "Has moved up huge ... vaulted from a couple to 5 bucks when it reported its quarter. ... I want to do a 'mon back* on the Conexant move." Cramer said wait to see the quarter on Finisar.

Tanzanian Royal: "We have so many high-quality mineral companies, why do we have to go all the way [down] the food chain?" Cramer prefers BHP Billiton, which he owns for his ActionAlerts PLUS chartiable trust portfolio, and Southern Copper.

"Ladish is in the sweet spot."

Moody's: "That quarter was the slowest quarter that company has had in two years. ... At this point it's a Don'tBuyDon'tBuy. ... up 2 or 3, SellSellSell."

Amerada Hess: "Was a great quarter, Sun Oil was a great quarter, Valero was a great quarter. We are in the crosshairs of the politicians [due to record oil company profits coinciding with high gasoline prices], you gotta lay low. ... any more political speak that takes this stock into the $130s, and then we're there."

Covad: "Hit its 52-week high today. I need you to sell."

Houston Exploration: "I think it's headed to 60. ... Two thumbs up, way up."

International Securities: "I liked this stock 10 points ago. ... I am distinctly now in the Don'tBuyDon'tBuy [camp]."

Energy Partners: "EPL is worth the money. You stay long it. You will not be disappointed."

Lightning Round

Cramer was bullish on Ultra Petroleum(UPL Quote - Cramer on UPL - Stock Picks), Peabody Energy(BTU Quote - Cramer on BTU - Stock Picks), Finisar(FNSR Quote - Cramer on FNSR - Stock Picks), BHP Billiton(BHP Quote - Cramer on BHP - Stock Picks), Southern Copper(PCU Quote - Cramer on PCU - Stock Picks), Ladish(LDSH Quote - Cramer on LDSH - Stock Picks), Boeing(BA Quote - Cramer on BA - Stock Picks), Amerada Hess(AHC Quote - Cramer on AHC - Stock Picks), Houston Exploration(THX Quote - Cramer on THX - Stock Picks), Hana Biosciences(HNAB Quote - Cramer on HNAB - Stock Picks) and Energy Partners(EPL Quote - Cramer on EPL - Stock Picks).

Cramer was bearish on: Travelzoo(TZOO Quote - Cramer on TZOO - Stock Picks), Tanzanian Royalty Exploration(TRE Quote - Cramer on TRE - Stock Picks), Moody's(MCO Quote - Cramer on MCO - Stock Picks), Covad Communications(DVW Quote - Cramer on DVW - Stock Picks) and International Securities Exchange(ISE Quote - Cramer on ISE - Stock Picks).

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

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