Cramer's 'Mad Money Lightning Round': MercadoLibre Bueno

01/28/08 - 07:31 PM EST

TheStreet.com Staff

To see the full "Mad Money" Recap, please click here.

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

Ultra Petroleum (UPL Quote - Cramer on UPL - Stock Picks): "I have to tell you I don't know anybody who's saying to buy these except the buyers. ... Natural gas is hopelessly out of fashion. ... I want you to buy."

McGraw-Hill (MHP Quote - Cramer on MHP - Stock Picks): Terry McGraw had a lot of good things to say ... but I'm not buying it. ... I wanna wait. I think you'll get paid to wait."

DirecTV (DTV Quote - Cramer on DTV - Stock Picks): "I have always been shocked that this stock has been as low as it is. ... There's so much competition. ... I don't want to be aggressive. ... I've been buying Discovery Holding (DISCA Quote - Cramer on DISCA - Stock Picks). They are the only communication TV business that I want to own right now."

Broadcom (BRCM Quote - Cramer on BRCM - Stock Picks): "We have not been fans of Broadcom for many, many years here. ... It's a real competitive marketplace. There's no edge to owning it. ... I don't like the segment ... but I do like Nokia (NOK Quote - Cramer on NOK - Stock Picks)."

Trimble Navigation (TRMB Quote - Cramer on TRMB - Stock Picks): "GPS is now too competitive. ... I don't want to touch it. ... I would use any price increase that we get above $70 to sell Garmin (GRMN Quote - Cramer on GRMN - Stock Picks), too."

MercadoLibre (MELI Quote - Cramer on MELI - Stock Picks): "The guidance was in line, we obviously wanted a blowaway guidance. We didn't get that. ... I think that you should be on the MercadoLibre secondary. This thing has been down and down hard, and I think it's a mistake. BuyBuyBuy."

Apple (AAPL Quote - Cramer on AAPL - Stock Picks): "It wasn't a great quarter ... the iPod numbers were not what I wanted. ... I'm being much more price sensitive. ... At $120, I will get intrigued by Apple again. ... until then you're not gonna see me pull the trigger."

First Solar (FSLR Quote - Cramer on FSLR - Stock Picks): "I just saw a piece about how First Solar is gonna be hurt by a recession. ... I think First Solar's cheap. ... I would leg in to some ... and I would pull it at the top."

Southern Copper (PCU Quote - Cramer on PCU - Stock Picks): "No! I do not believe it is a takeover target. ... I do believe it is dirt cheap. ... I am not going to make a big bet on copper here. ... I just think it's gonna be dead money. Don'tBuy."

Northrop Grumman (NOC Quote - Cramer on NOC - Stock Picks): "Either way, I would own Northrop. ... I also like Boeing (BA Quote - Cramer on BA - Stock Picks) but ... off commercial -- not military. ... I think Northrop Grumman is generating too much cash flow to stay down here. ... I reiterate my recommendation."

Clearwire (CLWR Quote - Cramer on CLWR - Stock Picks): "We doubled down at $15, it got to the mid-$20s. ... We never looked back."

AT&T (T Quote - Cramer on T - Stock Picks): "Let's make this really clear. ... There was a dispute about how they were really doing. ... I feel really strongly that AT&T and Verizon (VZ Quote - Cramer on VZ - Stock Picks) ... should be bought. Below $35 may have been the single best buy of this market. ... I want to pull the trigger at $35. ... There's too much negativity [on] Verizon, AT&T. Not enough negativity for Sprint (S Quote - Cramer on S - Stock Picks)."

Aecom (ACM Quote - Cramer on ACM - Stock Picks): "You gotta look on the front page of The New York Times. ... Cities are cutting back. It's too costly. ... That is right in Aecom's breadbasket. ... The perception of municipalities not being able to spend have made that company a distinct Don'tBuy."

Texas Instruments (TXN Quote - Cramer on TXN - Stock Picks): "They actually had a great conference call. ... Because of the cohort, which are products that go into the consumer products ... no one wants to own TXN, except you and me."

*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 by clicking here.

At the time of publication, Cramer was long Discovery Holding.

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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