It's Time for the Lightning Round!

Penwest Pharmaceuticals : Cramer likes this as a good speculative stock – but with little in the way of earnings or revenue, a spec is all it is.

Gildan Activewear : “This is a real winner,” Cramer says. But he cautions that even though its cheap on a multiple basis, it’s had a big run. “Maybe you buy a little and then wait for a little pullback.”

AirTran Holdings : “No can do.” The only airline Cramer has been recommending is GOL Linhas Areas . “That stock is going to $40,” he says.

Chesapeake Energy : Natural gas is back, Cramer says. Especially with hurricane season here, he thinks CHK goes higher. “Don’t abandon ship even though it has had a big run.”

Fannie Mae : When the subpime loan market blew up, Fannie Mae stepped up to the plate and bought $20 million worth of liquidity, Cramer says. Now the company is growing its portfolio again, and he doesn’t think it becomes expensive until it hits $80.

Mylan Laboratories : “I can’t go there,” Cramer says. He hasn’t been bullish on many drug stocks – he’d rather stick with a select few biotech companies like Celgene and Gilead .

Fuel-Tech : Cramer likes this as a pollution control company with a nitrogen-oxide solution. “I’m not bailing, and you shouldn’t either,” he says.

USANA Health Sciences : “Too high risk for me.” Cramer would rather go with Herbalife .

JetBlue : JetBlue is another problematic airline that Cramer doesn’t want to touch. When it comes to the airline/aircraft/aerospace sectors, there’s three stocks worth owning, he says: GOL , Genesis Lease and Boeing .

Tesco : The oil services group is still cheap, Cramer says. He thinks Tesco goes higher along with Halliburton.

Input/Output : “I think that’s one more great oil stock that can go higher.”

Trinity Industries : “I am blessing you to hold onto Trinity.”

Marathon Oil : Even at $128, Marathon is cheap, Cramer says.

Jim's charitable trust owns Fannie Mae and Halliburton.

GE, the parent company of CNBC, has an 11% stake in Genesis Lease.

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