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 - Cramer on CX - Stock Picks) 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 - Cramer on SWHC - Stock Picks). "I don't like the stock," he said. "We rang the register, and we never looked back."

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

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

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

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