Cramer's 'Mad Money' Recap: The Case for Rate Cuts

Stock quotes in this article: UTX , MSFT , HON , IBM , FLR , UNP , CSX , NOK  

Cramer said he still likes Liz Claiborne (LIZ Quote), VF Corp (VFC Quote) and Jones Apparel (JNY Quote), but says Van-Heusen is cheap and should be bought ahead of the proposed federal stimulus package.

Mad Mail

In this segment, Cramer corrected a Lightning Round stock he mentioned during his show on Friday.

Cramer said he mistakenly referred to Westinghouse Air Brake (WAB Quote) when he really meant Wabco (WBC Quote). Cramer said he was recommending Wabco, but also believes that Westinghouse Air Brake is also a good business.

Cramer told another viewer that McDonald's (MCD Quote), a stock he owns for his charitable trust, Action Alerts PLUS, is a major buy despite its current weakness.

A third viewer asked about Diana Shipping (DSX Quote). Cramer said he still remains negative on Diana.

Lightning Round

Cramer was bullish on Ultra Petroleum (UPL Quote), DirecTV (DTV Quote), Discovery Holdings (DISCA Quote), Mercadolibre (MELI Quote), Apple (AAPL Quote), First Solar (FSLR Quote), Northrop Grumman (NOC Quote), Boeing (BA Quote), AT&T (T Quote), Verizon (VZ Quote) and Texas Instruments (TXN Quote).

Cramer was bearish on McGraw-Hill (MHP Quote), Broadcom Corp (BRCM Quote), Trimble Navigation (TRMB Quote), Garmin (GRMN Quote), MEMC Electronics (WFR Quote), Southern Peru Copper (PCU Quote), Clearwire (CLWR Quote) and Aecom Technology (ACM Quote)

Want more Cramer? Check out Jim's rules and commandments for investing clicking here.

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

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At the time of publication, Cramer was long Discovery Holdings and McDonald's.

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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