Cramer's lightning round: Here's my playbook if you want to invest in oil

• It's that time again! "Mad Money" host Jim Cramer rang the lightning round bell, which means he gave his take on callers' favorite stocks at rapid speed.

Hess Corp.: "I don't like the oil stocks. You know what? I want you take a look at some of the master limited partnerships. Any one that yields more than 5.5 [percent] but less than 8 is one I want you to call back on because those are probably good."

American Water Works: "Here's my take: not bad. Not great, not bad. It's kind of edge-less right now. But it's been historically a good stock. No real edge there."

Silicon Laboratories: "That's not the place. I think you can go out and buy an Intel on a day like today, or buy Nvidia if it's down tomorrow."

Switch: "We've got so many fabulous stocks that are down so much. I'd rather have you think long-term and buy VMware."

Watch the full lightning round here:

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