It's Time for the Lightning Round!

RIO : “If I owned 100 shares, I would sell 25,” Cramer says. “Let it come in, and then you’ll have to buy it back cause the reality is that RIO is a great growth story over multiple years, as is Brazil.”

TrustCo Bank : This stock is seemingly inexpensive, Cramer says, but on a book value basis it’s actually very expensive. He would recommend swapping into Downey .

Motorola : Cramer was wrong on Nokia , which just reported a good number even though he thought Motorola was going to hurt them. But I’ve been right to say stay away from Motorola,” he says. “Motorola: let Carl Icahn on your board” Cramer says. Until then, he would continue to stay away.

Apple : “Apple is marking time,” Cramer says. “I now feel the risk reward is going for Apple; it’s one of just three tech stocks I said you could own right through to the summer.”

Quicksilver Resources : “That’s the good Quicksilver!” The other one - the sporting good company is no good, Cramer says. “KWK, on the other hand, is a company that has historically done some fabulous work finding out-of-the way oil and gas properties in some strange places like Michigan.” Cramer would buy KWK and XTO Energy right along with it.

Procter & Gamble : This is another stock that’s just been marking time, Cramer thinks. “Colgate and Procter & Gamble have just been biding their time as Pepsi and Coca-Cola have stolen the thunder.” Cramer likes PG here, and it’s got the wind at its back because it’s a great weak dollar play, he says. “ I say step up to the plate and buy that stock before it goes to $65.”

Southern Copper : “Don’t bet the farm … the Chinese are trying to cool off their economy which is also going to hurt Southern Copper.” Cramer would wait for a three or four point pullback before he would back up the truck.

RPM International : “Another stock that kind of has been lost in the shuffle.” The stock is down even though earnings are up but “the long term record with RPM is so good, we’re giving them the benefit of the doubt.”

St. Jude Medical : Cramer has been behind this one for seven points. He likes it because there are two ways to win: “we get the heart business pumping much faster or we get a takeover. What’s not to like?”

Dow Chemical : “There’s a company that’s decided they don’t want value. They’ve decided they don’t want to bring out shareholder gains, they’ve decided to take a backseat to the board members … that cannot last,” Cramer says. “You take the dividend, you hold the stock, and then you get ‘house of pleasure’ because there will be a deal there.” Cramer doesn’t care what anyone says; he thinks Dow will be acquired.

Dominos Pizza : Cramer was surprised the stock pulled back, and he thinks that’s a mistake. “You take that dividend and you hold onto it. Domino’s is a company that we’ve been buying for some time.”

Diageo : The stock just went up nine straight points and Cramer recommends waiting for a pullback to $80.

Burlington Resources : Cramer wouldn’t buy this spin-off yet, but he does like the brokerage business and that’s what Burlington is levered to.

Tiffany : “Is that ever a great company!” Tiffany, Coach , Ralph Lauren and Guess are all premium brands Cramer says you should buy, even with their high multiples.

Jim's charitable trust owns Diageo.

Questions? Comments?