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Lightning Round: Time to pull the trigger on this one

It's that timmmmmeeee! The Lightning Round bell has been rung, and Jim Cramer gave his take on a few caller favorite stocks:

Illumina: "If Illumina gets hit on a day when the market is down because of a broader issue that has nothing to do with life sciences, that's when you pull the trigger to buy. It's a great company, I actually like Thermo-Fisher too"

The GEO Group: "I'm not a big fan of the prison industry, it's contracted by contractors and I'm always afraid one of them is going to lose one and it is unpredictable to me."

Occidental Petroleum: "I'm not so sure this is a good deal. I think that if you're going to buy an oil company, you want to buy a company that has a bigger yield than this one. You need the protection, and I think Occidental is a little too dicey."

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AK Steel: "This is not a great company, sorry. It's not as good as Newcor, which our favorite steel company."

Transocean: "This stock is probably not that far from bottoming after this incredible decline. I worry about the dividend. I'm less worried about Energy Services (ESV), it's not as cheap as Transocean but it's got much newer rigs and that's why my Charitable Trust owns it."

Baxter International: "I think this is finally starting to run. It is a stock that I have been recommending. It's been a disappointment, and it's time to pull the buy buy buy trigger on this one."

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

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