Cramer's 'Mad Money Lightning Round': Best Buy Still True to Its Name

Stock quotes in this article: BBY , PRU , MET , FMD , XMSR , SIRI , ILSE , RMK , ATK , AMTD , SCH , DESC , CPST , RIMM , TXU , SLB , ILSE , ELNK , NOVL , HCBK , SIGM , RSH , MEDX , RSTO , RHAT , PALM , ORB , STX , NKTR , PFE  

To see a full "Mad Money" Recap, please click here.


Here's what Jim Cramer had to say about some of the stocks offered up by callers on the "Mad Money Lightning Round":

Best Buy(BBY Quote): "I think it's 8 points off its high." If it gets analyst downgrades because of its profit warning, "that's you're time to do a 'mon back* ... Don't mess with best of breed!"

IntraLase(ILSE Quote): "The shorts are leaning on this thing ... I think it's a buy here, and I'm sticking my neck out."

Ameritrade(AMTD Quote): "Two thumbs up!"

*For all you home-gamers, a 'mon-back opportunity means Cramer would back up the figurative truck and load up on a stock.

Lightning Round

Bullish

Cramer was bullish on Best Buy (BBY Quote), Prudential Financial (PRU Quote), MetLife (MET Quote), First Marblehead (FMD Quote), XM Satellite Radio (XMSR Quote), Sirius Satellite Radio (SIRI Quote), IntraLase (ILSE Quote), Aramark (RMK Quote), Alliant Techsystems (ATK Quote), Ameritrade (AMTD Quote), Charles Schwab (SCH Quote), Distributed Energy Systems (DESC Quote), Capstone Turbine (CPST Quote), Research In Motion (RIMM Quote), TXU (TXU Quote) and Schlumberger (SLB Quote).

Bearish

Cramer was bearish on EarthLink (ELNK Quote), Novell (NOVL Quote), Hudson City Bancorp (HCBK Quote), Sigma Designs (SIGM Quote), RadioShack (RSH Quote), Medarex (MEDX Quote), Restoration Hardware (RSTO Quote), Red Hat (RHAT Quote), Palm (PALM Quote), Orbital Sciences (ORB Quote), Seagate Technology (STX Quote), Nektar Therapeutics (NKTR Quote) and Pfizer (PFE Quote).


Interested in more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here. It's a series of articles from Cramer on how to become a better investor. The following table lists some of the rules that Cramer dissects.

1. Pigs Get Slaughtered 2. It's OK to Pay the Taxes
3. Don't Buy All at Once 4. Buy Damaged Stocks
5. Diversify to Control Risk 6. Do Your Homework
7. Don't Panic 8. Buy Best-of-Breed
9. Defend Some Stocks 10. Don't Bet on Bad Stocks
11. Own Fewer Names 12. Cash Is for Winners
13. No Regrets 14. Expect Corrections
15. Know Bonds 16. Don't Subsidize Losers
17. No Room for Hope 18. Be Flexible
19. Quit When Execs Do 20. Patience Is a Virtue
21. Be a TV Critic 22. When to Wait 30 Days
23. Beware the Hype 24. Explain Your Picks
25. Find the Bull Market
Check back for more of Cramer's Rules
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At the time of publication, Cramer was long Alliant Techsystems and Aramark.

James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for ActionAlertsPLUS. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." Cramer appreciates your feedback and invites you to send him an email by clicking here.

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