Lightning Round: Wachovia, BP, Elan and More

Energy Transfer Partners : Cramer likes Enterprise Product Partners better, but said that ETP is still a good stock.

Continental Resources : Until oil bottoms, Cramer can’t recommend this stock.

Leggett & Platt : Take profits on LEG, Cramer said. This stock’s already had a good run.

BP : Don’t buy, Cramer said.

Atlas Energy : This company has a good yield, and with nat gas bottoming Atlas is a buy.

Ambac : Unless Fannie Mae and Freddie Mac are bailed out by the Treasury, Cramer recommended staying on the sidelines when it comes to Ambac.

Elan : “Can’t get behind it. Way too hard.”

Wachovia Bank : Cramer likes CEO Bob Steele, so this stock is a buy.

Pitney Bowes : “Problematic.” Don’t buy a company that misses earnings when there are so many others that hit their targets, Cramer said.

PetroBras : PBR is a buy.

Consol Energy :Equitable Resources is a better pick, Cramer said.

Questions for Cramer?

Questions, comments, suggestions for the Mad Money website?