Lightning Round: MIPS Tech, Lockheed Martin, JPMorgan and More

MIPS Tech : Pull the trigger on this stock, Cramer said.

SPDR Gold Trust ETF : For those who don't own gold, Cramer recommends slowly building up to 10 to 20 percent of their net worth in the precious metal.

Lockheed Martin : While Cramer thinks this is a great company, he worries how the defense budget will affect it. Stay away.

JPMorgan :Wells Fargo has more upside than JPM, especially if you think the housing market could soon turnaround.

When this post was published, Cramer's charitable trust owned JPMorgan.

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