It's Time for the Lightning Round!

Aruba Networks : The stock is up a quick $3 after a blowout quarter last week, so Cramer recommends waiting for a pullback before buying in. “If it goes below $20, you have to be willing to pull the trigger.”

Merrill Lynch : “Merrill Lynch is not going to have any problem going over $100.” Cramer says the stock is too cheap right here, so he recommends getting in.

Level 3 Communications : “This stock is a creeper.” LVLT climbs a bit then pulls back, but Cramer thinks it’s in the process of taking out its high. He predicts the stock should end the year between $7 and $8, so any pullback is a chance to get in.

Target : Cramer suggests taking a little off the table and putting some of that money into Wal-Mart, “where the real turn is occurring,” he says. He thinks the stock has plenty of upside left.

Aluminum China : “I want you to ring the register. The Chinese market is overheated.”

Targa Resources :Dominion Resources is probably a better diversified utilities company than Targa, Cramer says. He recommends a switch.

Palm : “I need you out of Palm. I would rather see you in RIMM, Research in Motion.”

Companhia Vale do Rio Doce : “I have not said one thing about selling RIO, and I’m not going to sell it yet.” Cramer says it’s still one of the cheapest minerals stocks out there.

Scholastic : “Way too inconsistent.” Cramer would rather see investors in Barnes & Noble .

Tesoro : The stock’s move has peaked and these margins can’t be sustained, Cramer says. He thinks now is the time to get out.

RF Micro Devices : “I am not going to bless RF Micro – not on this show.” Qualcomm is a better play here, Cramer says.

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  • Jim Cramer

    Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

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