Lightning Round: Level 3, Circuit City, Tellabs and More

Jones Soda : Why own Jones when you could own Pepsi or Coca-Cola , two truly great soda companies? “Let’s not trade down,” Cramer said.

INVESTools : Cramer is bullish on SWIM. “They have pulled it off.”

Melco PBL : When it comes to the casino business: “They know nothing!”

Skyworks : Cramer likes Sky Works as well as RF Micro Devices . But he stressed the only window of opportunity to own these stocks is between now and January. Sky Works is poised to go to $12, but get out when it does, he said.

Precision Steel : In the bubble that is the Chinese market, Cramer is sticking only with the best. Precision Steel is not the best.

Circuit City : Trade up to Best Buy, Cramer advised. “Circuit City is in an existential crisis.”

Invesco : Cramer prefers T. Rowe Price .

Level 3 : Only when CEO Jim Crow - who had been in the hospital and is the main reason Cramer had recommended LVLT - comes on Mad Money and says he is in good health will Cramer get behind the stock again. “Mr. Crow, come on this show!”

Tellabs : This stock is history if it doesn’t complete an acquisition, Cramer said, and that’s not enough of a reason to own it.

Under Armour : “Don’t believe the bears. Under Armour is the place to be!”

Aircastle : Cramer likes the yield and remains bullish. It’s just not that exciting of a stock, he said.

Lance : The better play is Kraft , Cramer said.

Red Hat : Cramer believes Oracle is still the best of the software names.

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    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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