It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed:

Nike: "I thought it would have been down more on a conviction buy to buy downgrade from Goldman Sachs, and I think you should wait if you want to buy more. But don't trade around it. It is too good a stock."

CVR Refining LP: "I don't really care for the refiners. I notice that the new MDU Resources refinery with the Calumet specialty is not doing that well, thank you RBN. I don't need you to be in refiners right now."

Tesla Motors: "Tesla Motors is a cult stock, so therefore it defies the four walls of the spreadsheet and is certainly beyond my candid-mind thinking. If you like the car and want to own the stock that's fine. Be careful, Audi has a 2017 electric that people are saying good things about."

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Consol Energy: "This stock is creeping up, it's got a lot of support among hedge funds and what I say is sell, sell, sell."

Cheniere Energy: "People are very concerned that these contracts — which are iron-clad because they are exporting liquified natural gas — will somehow not be honored, and it's sending the stock down. I prefer CQP which yields 6.68 percent but understand that as long as the oil complex is down, people don't want anything to do with anything oil. That's just the way it is."

Sirius XM Holdings: "I think Sirius is a buy. It's really a play on auto sales and I think auto sales are staying strong, and I like that."

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