Cramer's 'Mad Money' Recap: Can Corn, Harvest Profits

Am I Diversified?

In this type of market you need to be defensive and you need to be diversified, said Cramer. That is how you protect yourself.

The first caller to participate in "Am I Diversified?," a segment in which viewers call in to have Cramer vet their portfolios for diversification, had the following five stocks in his portfolio:

• Bank of America (BAC)
• Deere (DE)
• Halliburton (HAL)
• Alaska Communications Systems (ALSK)
• Johnson & Johnson (JNJ).

Cramer called the portfolio "smacking good," saying a bank, a farm-equipment company, an oil company, a telecommunications company and a drug stock makes this a diversified portfolio.

The next caller owned the following stocks:

• Chevron (CVX)
• Freeport-McMoRan Copper & Gold (FCX)
• Goldman Sachs(GS)
• MEMC Electronic Materials (WFR)
• Verizon (VZ).

With an oil and gas, a mineral, a bank, a tech and a telephone company, this portfolio also got Cramer's stamp of diversification.

The final portfolio under the microscope consisted of these stocks:

• IBM(IBM)
• Starbucks (SBUX)
• TD Ameritrade (AMTD)
• Capstone Turbine (CPST)
• Dynegy (DYN)
.

Cramer said he would get out of Capstone and buy a health care stock.

Mad Mail

Cramer also reached into the "Mad Mail" mailbag and answered a viewer who wrote in to ask Cramer if Microsoft (MSFT) fit the description of a bottom to buy into. Cramer said that he currently owns Microsoft for his Action Alerts PLUS charitable trust and he is getting killed. He did not recommend buying it.

Lightning Round

Cramer was bullish on Yamana Gold(AUY), Goldman Sachs(GS), Chesapeake Energy (CHK), Yahoo! (YHOO) and Broadcom(BRCM).

Cramer was bearish on Harmony Gold Mining (HMY), Hansen Natural(HANS), Tellabs(TLAB), GSI Commerce (GSIC), Energy Conversion Devices (ENER), Conexant Systems(CNXT) and Waste Management (WMI).

For more of Cramer's insights during the most recent Lightning Round, click here.

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