MAD MONEY: CRAMERS TELLS BEN TO CUT IT!

After a dramatic drop in the market on Friday, Cramer, pissed off and a little irritated make a list of short stocks as well as pleaded with our Fed Reserve chairman, Ben Bernanke that it’s time to cut those rates to save people from losing their homes. I second that notion at this time. I will write a article about my opinions on the falling American economy in a weekend special article.

This was the list from Cramer for members of the Cramerville:

MGIC Investment (MTG), Countrywide Financial (CFC), Bear Stearns (BSC), KB Home (KHB), Centex (CTX), MBIA (MBI), Blackstone (BX), Thornburg Mortgage (TMA), Beazer Homes (BZH), Washington Mutual (WM), Goldman Sachs (GS) and Citigroup (C) (The last two, Cramer owns for his charitable trust)

Once again, Cramer pumped Lululemon Athletica (LULU) for the third time this week. Read my review of it here. But he said that “Lulu is on to something, and if it performs anything like Under Armour, we’re looking at a real winner,” but he also said you should wait for it to come down a little bit and find a good entry point which is a great idea especially which I say is after the lock up period if possible.

A defensive suggestion by Cramer was Boston Beer (SAM) which is the maker of the beloved Samuel Adams brands. “A brewer should thrive in good times and bad,” he said. People drink beer no matter what.” The stock is close to a 52 week high which shows that it has a staying power despite the bloodshed in the streets of the Wall Street. Mr. Cramer gave it a triple BUY!!!

“Right now there is an opportunity to get into these stocks…Oil stocks are among the best stocks in this market.” The oil trade was revisited and Jimbo suggested that it was a good time to get into the industry especially with recent drop. But keep in mind that the hurricane predictions of the year have been reduced so that catalyst is going to be less likely. But hey when is the weather man ever right? Among his recommendations were Occidental Petroleum (OXY) which was featured on the show, ConocoPhillips (COP) and Exxon Mobil (XOM). (I currently own Chervon (CVX) September calls. I betting on some global catalyst)

Lightening Round: I don’t really cover lightening round unless I see things that are important because it seems that most things in lightening round seem to lack momentum but I noticed that the health care stocks and rail stocks have been beated up and ignored. So here are two recommendations:

UnitedHealth (UNH): “You’re speaking to the choir here. Understand, I’ve owned this stock for a couple of years for my charitable trust.” “This is precisely the kind of stock that does well on a slowdown. … I want to buy the stock.”

Norfolk Southern (NSC): “Every railroad stock has been killed. … All of them are owned by very big hedge funds. … People say to themselves, ‘I guess all the hedge funds are getting killed.’ That is not true. … I still like the stock.” Also keep in mind, the oracle of Omaha, Warren Buffet is long railroads as well and may eventually add to his position.

Nastech Pharmaceutical (NSTK ) “I think that’s a better spec than your spec.” which refered to a readers speculator pick of SuperGen (SUPG) was inferior to this one. But a gamble is still a gamble. I try not to play with health stocks because of the unpredictability of anything in the sector which is hit or miss but I may make a post of Nastech soon.