Cramer said until worldwide demand increases, or some of the smaller commodity companies get takeover bids, there will be no end in sight for just how low these companies will trade.

Eating Out

In the wake of the surprise announcement from Fedex (FDX Quote) that earnings would be 36% better than expected this quarter, Cramer said now is the time to revisit the restaurant stocks.

As oil prices continue to fall, Cramer expects upside surprises from the largest and strongest restaurant chains such as Darden Restaurants (DRI Quote).

Cramer's last mention of Darden was a sell recommendation on June 6, 2007. Since then, he said the company has lowered guidance so far that it sets the stage for it to "under-promise" and "over-deliver."

Cramer said Darden has many things playing in its favor, including falling raw costs and cheaper gas prices. With price increases already in place, companies like Darden can only benefit as the raw costs that prompted those increases begin to decline. Likewise, as gas prices continue to fall, more and more consumers should be returning to the restaurant scene.

Cramer applauded Darden for managing of its food costs, which are estimated to rise only 2% this year, despite double-digit increases in many items. He also mentioned the company's 2.6% dividend yield and stock buyback programs as added reasons to own the stock.

Clean, Cheap Gas

Cramer talked with Andrew Littlefair, president and CEO of Clean Energy Fuels (CLNE Quote), which he feels is amidst a multi-year move as natural gas becomes a serious contender for our country's alternative fuel needs.

Littlefair said Cramer's vision of a nationwide network of Clean Energy fueling stations is not a pipe dream and can come into fruition.

Littlefair reminded viewers that 1 million trucks using natural gas would displace 40% of the diesel fuel used in the U.S. He noted that on average, natural gas saves $1.50 a gallon at the pump and produces 50% less emissions.

Littlefair went on to say that converting to natural gas would be huge for companies such as the privately held Swift Transportation, which buys around 1 million gallons of fuel a day.

Littlefair also remained very optimistic for the passage of a California ballot initiative slated for November that would earmark $3 billion for alternative fuels and put another 25,000 natural gas vehicles on the road. He said that initiative alone will save 1.2 billion gallons of gas and diesel fuel a year.

Cramer and Littlefair both questioned why companies like General Motors (GM Quote) manufactures 19 models of natural gas vehicles abroad, but none here in the U.S.

Cramer again recommended Clean Energy as his No. 1 speculative natural gas pick.

Am I Diversified?

Cramer talked with callers and reviewed their portfolios. The first caller's portfolio included Arch Coal (ACI Quote), Almost Family (AFAM Quote), Costco (COST Quote), Proctor Gamble (PG Quote) and Windstream (WIN Quote).

Cramer called this portfolio "perfection," saying he liked it very much.

The second caller's top holdings included Genentech (DNA Quote), First Solar (FSLR Quote), Transocean (RIG Quote), Skyworks (SKWS Quote) and General Mills (GIS Quote).

Cramer call this group of stocks a fantastic portfolio.

Sudden Death

Cramer was bullish on FMC Corp (FMC Quote).

He was bearish on MEMC Electronics (WFR Quote) and Seaspan Corp (SSW Quote).

Lightning Round

Cramer was bullish on Research In Motion (RIMM Quote), Wachovia (WB Quote), US Bancorp (USB Quote), Chemical Financial (CHFC Quote) and TiVo (TIVO Quote).

He was bearish on Valero Energy (VLO Quote) and National City (NCC Quote). P/>Want more Cramer? Check out Jim's rules and commandments for investing by clicking here.

Read more of Cramer's Mad Money Lightning Round insights.

For "Mad Money" performance statistics and other links, check out Mad Money stats