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Booyah Jim!: I can't seem to reconcile in my mind your aversion to placing stop-loss orders instead of "schnitzeling" a portion of a holding (or half in the case of a double) to preserve some profits. Either approach preserves some profits, but a stop-loss order preserves the potential upside gain if the stock continues to climb. Please explain again why you don't recommend using stop losses. --Rick

Cramer says: “I agree that you should always be taking profits. We’ve had a very big run. I am concerned about stop-loss orders because in an extremely volatile market…you could literally be picked off. You put a stop-loss order in for Exxon [XOM  Loading...      ()   ] at $69, it touches $69 and goes back to $72 and you say, ‘Why did I do that? Why didn’t I just monitor it myself?’ Volatile markets mean that you have to be a little bit more hands on when you want to sell, and a stop loss takes that out of you.”

          ___

Cramer: You've been talking a lot about taking profits and playing with the house's money. You have also recommended buying small amounts of good companies instead of many shares of a dog. My question is where do the two meet? If I only had enough money to buy a few shares of a great company like JPMorgan Chase [JPM  Loading...      ()   ], which had a monster move this spring, how do I protect my gains without losing all of my position? --Mark

Cramer says: “You have a hundred shares of JPMorgan, you take 25 shares off about up 10 points and then you take another 25 shares off about another 10 points. And then the rest is playing with the house’s money. You don’t need to sell anymore. That’s why I favor my so-called scale-out position. That’s what works.” Read Jim Cramer’s Real Money: Sane Investing in an Insane World for more on this.

          ___

Jim: I have my eye on TriQuint Semi [TQNT  Loading...      ()   ]. Its balance sheet isn't impressive, but considering its chips are currently being used for Apple’s [AAPL  Loading...      ()   ] iPhone and multiple models of Research in Motion’s [RIMM  Loading...      ()   ] BlackBerry, is it a smart pin-action play? --Brandon

Cramer says: “…Neither TriQuint nor RF Micro [RFMD  Loading...      ()   ] is as good as Skyworks Solutions [SWKS  Loading...      ()   ]…May I remind people that Qualcomm [QCOM  Loading...      ()   ] remains my favorite in the group, and they are going to have bust-out earnings…That’s why I own it for my charitable trust. It is my largest position…I’m not selling.”

Cramer’s charitable trust owns JPMorgan Chase and Qualcomm.

Call Cramer: 1-800-743-CNBC

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