Cramer's 'Mad Money Lightning Round': Dive Back In to Cal Dive

Stock quotes in this article: ABB , SHLD , SNDK , ET , GW , BEBE , GLW , URBN , DYN , PKS  

To see the full "Mad Money" recap, please click here.

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

Cal Dive: "I think Cal Dive has pulled back 11% from its high. That's my sweet spot. I want you to start buying rightttt ... nowwww."

bebe stores: "You come to me with bebe. I don't want no bebe on this show. They missed the quarter, they missed the Christmas season. ... They are not for me."

Sears Holdings: "I was sick to my stomach today. In this fabulous ramp day I had one stock that was down and it was Sears Holdings. ... I still like the name, but it's a tepid bull."

SanDisk: "The guidance, the outlook, not even so-so. It was downright negative. I don't want to get in the way of a locomotive that is off track." Cramer said he would by it only down in the mid-50s.

ABB: "I want you to schnitzel half the position and let the rest runnnn." Cramer recommended it at 4 and it went to 7."

Lightning Round

Cramer was bullish on: Birch Mountain Resources(BMD Quote), UnitedHealth Group(UNH Quote), KLA-Tencor(KLAC Quote), Cal Dive International(CDIS Quote), Corning(GLW Quote), Urban Outfitters(URBN Quote) Dynegy(DYN Quote), Mirant(MIR Quote), Sears Holdings(SHLD Quote), OptionsXpress(OXPS Quote), Marvell Technology(MRVL Quote), Neurocrine Biosciences(NBIX Quote), ABB(ABB Quote), E*Trade Financial(ET Quote) and Grey Wolf(GW Quote).

Cramer was bearish on: Pier 1 Imports(PIR Quote) Six Flags(PKS Quote), LTX(LTXX Quote) bebe stores(BEBE Quote), Progress Energy(PGN Quote), SanDisk(SNDK Quote) and Cree(CREE Quote).

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

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

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At the time of publication, Cramer was long UnitedHealth Group and Sears Holdings.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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