Cramer's 'Mad Money' Recap: Who's Bluffing in the Market?

08/08/07 - 07:31 PM EDT

TheStreet.com Staff

Cramer said he believes that VFC "should go up with or without a strong American consumer."

To view Cramer's interview with Mackey McDonald, please click here.

Emphatic Am I Diversified?

During the "Am I Diversified?" game, Cramer's first caller asked if he was diversified with these five stocks in his portfolio: Precision Castparts (PCP Quote - Cramer on PCP - Stock Picks), Viacom (VIA Quote - Cramer on VIA - Stock Picks), Cleveland-Cliffs (CLF Quote - Cramer on CLF - Stock Picks), Franklin Resources (BEN Quote - Cramer on BEN - Stock Picks) and American Express (AXP Quote - Cramer on AXP - Stock Picks).

Cramer called out a financial pair in Franklin Resources and American Express. He suggested the caller swap out of AXP and pick up a health care play.

The next player named these five plays: Walgreen (WAG Quote - Cramer on WAG - Stock Picks), Wal-Mart (WMT Quote - Cramer on WMT - Stock Picks), Wells Fargo (WFC Quote - Cramer on WFC - Stock Picks), GlaxoSmithKline (GSK Quote - Cramer on GSK - Stock Picks) and Home Depot (HD Quote - Cramer on HD - Stock Picks).

Cramer said that the caller had three retailers, adding that he likes Walgreen and advising the caller to sell Wal-Mart and buy some Raytheon (RTN Quote - Cramer on RTN - Stock Picks).

During his "Mad Mail" segment, when a viewer asked whether the Fed's loosening would hurt the dollar and in turn hurt the value of investor holdings relative to the rest of the world, Cramer said he frankly doesn't care.

Instead, he's worried about the millions of Americans who could lose their homes vs. the dollar and tariffs.

During the "Sudden Death" round, Cramer was bullish on Allergan (AGN Quote - Cramer on AGN - Stock Picks). He was bearish on Lowe's Companies (LOW Quote - Cramer on LOW - Stock Picks), Advanced Medical Optics (EYE Quote - Cramer on EYE - Stock Picks) and Best Buy (BBY Quote - Cramer on BBY - Stock Picks).

Lightning Round

Cramer was bullish on Nvidia (NVDA Quote - Cramer on NVDA - Stock Picks), Dynegy (DYN Quote - Cramer on DYN - Stock Picks), China Telecom (CHA Quote - Cramer on CHA - Stock Picks), Baidu.com (BIDU Quote - Cramer on BIDU - Stock Picks), Nymex (NMX Quote - Cramer on NMX - Stock Picks), Teck Cominco (TCK Quote - Cramer on TCK - Stock Picks), Lockheed Martin (LMT Quote - Cramer on LMT - Stock Picks), General Dynamics (GD Quote - Cramer on GD - Stock Picks), Raytheon (RTN Quote - Cramer on RTN - Stock Picks), Northrop Grumman (NOC Quote - Cramer on NOC - Stock Picks), Ralcorp Holdings (RAH Quote - Cramer on RAH - Stock Picks) and ENGlobal (ENG Quote - Cramer on ENG - Stock Picks).

Cramer was bearish on Spectranetics (SPNC Quote - Cramer on SPNC - Stock Picks), Boston Scientific (BSX Quote - Cramer on BSX - Stock Picks), Perfect World (PWRD Quote - Cramer on PWRD - Stock Picks) and RealNetworks (RNWK Quote - Cramer on RNWK - Stock Picks).

For more of Cramer's insights during the Lightning Round, click here.

Pop Quiz! Are you a loyal "Mad Money" viewer? Take TheStreet.com's latest "Mad Money" culture quiz to see how much of the show you've caught this week or just to immerse yourself in Cramer's nonfinancial madness.

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

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Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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