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It's Time for the Lightning Round!

Integrated Device Technology : Cramer would recommend Texas Instruments , Qualcomm and National Semiconductor before IDTI. “That’s a ‘don’t buy.’” Cramer thinks Intel trades to $27.

Grey Wolf : “At this point, at $8.50, I would ring the register on some Grey Wolf.”

Gerdau AmeriSteel : “This is one of my favorite steel stocks in the world.” Cramer also likes U.S. Steel and Allegheny Technology.

Sears Holding : “I am urging patience. I don’t want people to quit Sears.” Cramer said that there’s a chance SHLD could become the next domestic version of Berkshire Hathaway the way that Brookfield Asset Management might be in the international market. Expect some ups and downs from SHLD just like we’ve gotten from Buffett.

Pepsi Bottling : Cramer likes owning the parent rather than the bottling company. If given the choice, he’d go with PepsiCo.

Smith & Wesson : “I blew this one.” Cramer liked the stock at $5 and recommended taking profits at $12. With the stock over $16, “I wish I hadn’t left the table,” Cramer said.

Apple : Cramer recommends selling with the spike on the iPhone release, but Home Gamers want to get back in once it drops back down. Three months from now, Cramer thinks the stock will be higher.

Starbucks : The stock is down to about $26 from its 52-week high of $40 – and Cramer thinks it goes lower. “I wish you had asked me about Costco. There I see something to like.”

Qualcomm : Until this company digs itself out of all the litigation, the stock won’t reach $55, Cramer says. He’d rather see investors in National Semiconductor, Texas Instruments or Intel.

NYSE Euronext : “It’s not done going down. The sellers are miserable. They keep hitting it. Could it see $70? Yes. I still like it. But I just have to tell you that the sellers are morons, and they are not done. And they are going to keep hitting it. So be careful out there.”

Jim’s charitable trust owns NYSE Euronext and Sears Holdings.

Questions? Comments? madcap@cnbc.com

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