Cramer's 'Mad Money' Recap June 26

06/26/08 - 07:28 PM EDT

TheStreet.com Staff

Sell Block

Cramer took a minute to comment on Steve Rattner, who wrote an article criticizing Cramer in a Conde Nast publication. Cramer said that the Sell Block is for telling viewers to sell, and that Rattner got the show wrong.

"I'm telling you to sell all the time," Cramer said. "Last Friday during our game plan, I told you to pick up some Darden (DRI Quote - Cramer on DRI - Stock Picks)." After the stock's quick rise in the past week, Cramer said it's time to ring the register.

Cramer then reminded viewers that he had told them to avoid Nike (NKE Quote - Cramer on NKE - Stock Picks) and RIM ahead of their earnings. He recommended buying both now that they have gone down.

He reiterated previous bearish calls on ConAgra (CAG Quote - Cramer on CAG - Stock Picks) and RiteAid (RAD Quote - Cramer on RAD - Stock Picks).

Stay away from retailers, Cramer said. "As far as I'm concerned, this group cannot be owned until we start seeing actual store closings," he said. He warned viewers to stay away from J.C. Penney (JCP Quote - Cramer on JCP - Stock Picks), Sears (SHLD Quote - Cramer on SHLD - Stock Picks), Kohl's (KSS Quote - Cramer on KSS - Stock Picks) and Dick's (DKS Quote - Cramer on DKS - Stock Picks).

Apogee's Rough Ride

Cramer recommended Apogee (APOG Quote - Cramer on APOG - Stock Picks) on April 28 as a green-building play. Apogee has fallen 16% since recommendation. He welcomed Russell Huffer, Apogee Chairman CEO, to the show to discuss his business.

Huffer said his business cuts the amount of heating and air conditioning required in buildings. He said that the quarter missed the Street expectation, but met the company's expectation. He said that the company is a long-term investment but his backlogs are bullish signs.

Cramer said investors should wait another quarter. "Right now we're in don't-buy mode," he said.

Lightning Round

Cramer was bullish on Tupperware (TUP Quote - Cramer on TUP - Stock Picks), Starbucks (SBUX Quote - Cramer on SBUX - Stock Picks), Warren Resources (WRES Quote - Cramer on WRES - Stock Picks), Heinz, General Mills (GIS Quote - Cramer on GIS - Stock Picks), Frontline (FRO Quote - Cramer on FRO - Stock Picks)

He was bearish on Penn National Gaming (PENN Quote - Cramer on PENN - Stock Picks) and Hudson City Bancorp (HCBK Quote - Cramer on HCBK - Stock Picks).

Want more Cramer? Check out Jim's rules and commandments for investing by 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 not long on any stock.

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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