'Mad Money Lightning Round': Wait for Wachovia

Stock quotes in this article: WB , ETP , LOW , ATN , PBR  

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" Friday evening:

Wachovia (WB Quote): "This is run by Bob Steel. He's as close as we're going to get to a great banker. I think he's going to make this a great company. "

Energy Transfer Partners (ETP Quote): "This is another one of these gas gathering stocks with a great yield. I think the dividend is safe, I like it."

Continental Resources (CLR Quote): "The is the best play on the Dakota natural gas business. I don't think it's safe to bottom fish in this sector yet."

Leggett & Platt (LEG Quote): "This one had a good quarter. I think its had too much of a run already, though. I think you should sell it and move into another early cycle stock like Lowes (LOW Quote)."

BP (BP Quote): "I think the 5% yield is safe but that stock is going nowhere. I'm going to put it in the "don't buy" camp."

Atlas Energy Resources (ATN Quote): "It looks like the big selling is over. I think the yield is safe and we can't walk away from these stocks. It's time to buy."

Ambac (ABK Quote): "If the Treasury cleans up the mess, then you'll make some money, but I'd rather be on the sidelines for this one."

Elan (ELN Quote): "No can do. Too hard. I think its a big no right now."

Pitney Bowes (PBI Quote): "Problematic. I have companies making the quarter getting killed, I don't need ones that miss the quarter."

Petroleo Brasileiro (PBR Quote): "I think this one is a buy here and is actually growing. This one I want to get behind."

Consol Energy (CNX Quote): "I'd rather see you in Equitable Resources (EQT Quote). I believe that natural gas is the way of the future. I just don't trust coal in this political environment."

*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.

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At the time of publication, Cramer wasn't long any stocks in this story.

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."

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