Cramer's 'Mad Money Lightning Round': Smith & Wesson Misfires

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Here's what Jim Cramer had to say about some of the stocks that callers offered up during the "Mad Money Lightning Round" Tuesday evening:

Cramer gave Mexican cement play Cemex(CX Quote) two thumbs up. "It's one of the best stocks out there," he said. The turmoil in Thai markets highlights the dangers of foreign investing, Cramer said. But Cemex's exposure to American markets puts it on solid ground.

He's no longer a big fan of Smith & Wesson(SWHC Quote). "I don't like the stock," he said. "We rang the register, and we never looked back."

Cramer doesn't like JDSU(JDSU Quote), which he lumped in with Ciena(CIEN Quote). "They're too hard." He pointed investors to Cisco(CSCO Quote) instead.

Cramer likes Allegheny Tech(ATI Quote) as a play on the good times at Boeing(BA Quote). "It makes titanium for Boeing," he said. "It is still too cheap."

For a caller who asked about Occidental Petroleum (OXY Quote), he noted that it's heavily tied to crude prices, while a stock like Exxon Mobil(XOM Quote) is less levered to them. "So I settle on Chevron(CVX Quote)," Cramer said.

"It's a favorite for those who want steady income. It always seems to have a bid underneath it." He also cited Devon Energy(DVN Quote) as a solid play.

Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here.