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The first

"RealMoney" radio show caller asked about


(QCOM) - Get QUALCOMM Incorporated Report

, which Jim Cramer owns for his charitable trust

Action Alerts PLUS.

Cramer advised the caller to respect what the market was trying to say. Here, it's saying that Qualcomm is not finished going down. Wait until it goes two points lower to buy, Cramer said.

Cramer told his next caller to wait before buying railcar company

Westinghouse Air Brake Technologies

(WAB) - Get Westinghouse Air Brake Technologies Corporation Report

. It is in the midst of transitioning from a momentum stock to a value stock, he said. Right now, Cramer said, it did not have a risk/reward ratio he cared for.

Instead, he recommended

Norfolk Southern

(NSC) - Get Norfolk Southern Corporation Report

to the caller. It has a better and clearer path to go higher, he said.

Cramer told a caller to be careful about

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TheStreet Recommends

Oregon Steel Mills

( OS), saying that although it was one of the hottest stocks at the beginning of the year, right now it does not have a good risk/reward.

When the next caller asked about


(KO) - Get Coca-Cola Company (The) Report

, Cramer said that although Bear Stearns upgraded the company, he believes


(PEP) - Get PepsiCo Inc. Report

is a better stock.

Even though Pepsi is more expensive than Coca-Cola, Pepsi has performed better, and it has better growth, Cramer said. He recommended the caller swap out of Coca-Cola and into Pepsi.

Cramer advised a caller to pick at


(SLB) - Get Schlumberger N.V. Report

, since right now the stock is in virtual freefall.

"I would buy 50 out of 200 shares right now and wait to buy 50 more shares as it drifts down, and then I would buy 100 shares," Cramer said.

Cramer preferred

Consolidated Edison

(ED) - Get Consolidated Edison Inc. Report


Public Service Enterprise Group

(PEG) - Get Public Service Enterprise Group Incorporated Report


And he recommended

Qwest Communications


to a caller over

Level 3 Communications


. Level 3 needs to stop making acquisitions, they are killing their shareholders, he said.

Cramer said


(SBUX) - Get Starbucks Corporation Report


Whole Foods Market

( WFMI) are his two favorite growth stocks.

And he told a caller to wait on purchasing

Peabody Energy

(BTU) - Get Peabody Energy Corporation Report


To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.

At the time of publication, Cramer was long Qualcomm.

Jim Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

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