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NEW YORK (

TheStreet

) -- Froth is the enemy of good investing, Jim Cramer told the viewers of his "Mad Money" TV show Monday.

TST Recommends

When speculators start reaching, buying even the worst of stocks at inflated prices, that's froth, said Cramer. And froth is what caused today's market reversal.

Cramer said he's always encouraged speculation and has eve recommended as much as 20% of your non-IRA portfolio could be in speculative names. But, he said, speculation involves discipline.

Take

Citigroup

(C) - Get Report

, which Cramer has championed in recent days. Cramer said when he saw this stock up another 25 cents at today's open, he knew speculators were reaching, taking the stock too high, too fast. He's sticking by his $20 price target in 2012, but noted that the stock needs to come down before he'd get in.

Cramer said speculation was rampant in

Fannie Mae

( FRE) and

Freddie Mac

( FNM) as well. He said speculators are hoping to make a quick buck in these names, despite the fact the Federal Reserve hasn't decided how much money these companies need to repay the government. The common stock could be worthless, said Cramer.

The same is true of

Sirius XM Radio

(SIRI) - Get Report

, a stock which Cramer called "a used lottery ticket." He said it's dangerous to speculate without the facts.

What are some good spec names? Cramer said he still likes the regional banks, those with good balance sheets and those poised to expand as dozens upon dozens of weaker regional banks fail. Cramer likes

Fifth Third Bank

(FITB) - Get Report

, along with

Huntington Banshares

(HBAN) - Get Report

and

Regions Financial

(RF) - Get Report

good stocks.

In technology, Cramer said stocks like

RF Micro Devices

(RFMD)

,

Triquint Semi

(TQNT)

and

ADC Telecom

( ADCT) are good stocks to speculate on, but not

Level 3

(LVLT)

, which has an awful balance sheet and is not part of Cramer's mobile Internet thesis.

Cramer said no company wants their stock to fall into single digits, so knowing which ones to invest in is crucial.

Case for Natural Gas

Cramer brought in Jim Hackett, CEO of

Anadarko Petroleum

(APC) - Get Report

to find out why natural gas is getting a bad rap in Washington.

Hackett said that he hopes and expects natural gas will play a foundational role for energy in this country. He said while wind and solar power seems to have the president's ear, only natural gas, along with nuclear, can meet the country's goals for clean energy and energy independence. He said natural gas is also the perfect backup fuel for wind and solar technologies.

Hackett took aim at so-called "clean" coal, saying that it's an unproven technology and may never come into fruition, while natural gas, on the other hand, can begin today and scale easily with demand, all for around the equivalent of $30 to $42 a barrel oil. Natural gas, he said, works for both electricity generation and as a fuel for vehicles, he said.

Turning to jobs, Hackett said expanding natural gas production could create hundreds of thousands of high-paying jobs in this country. He said that 80% of the country's production is done via smaller, independent producers, which would translate into real economic growth.

Cramer continued his support of natural gas as an alternative fuel, and continued to recommend Anadarko.

Cooling Off

Cramer said he's looking for the "best of breed" among the discount retailers. Tonight he examined

TJX Companies

(TJX) - Get Report

, purveyor of the TJ Maxx and Marshall's chains.

Cramer said TJX makes its money buying excess inventory from other retailers, then offering it to customers at a substantial discount. He said the model works brilliantly during times of recession, when retailers have excess inventory to sell and consumers need clothes on the cheap.

TJX reported same store sales up 4% in most recent quarter, with inventories down 4% during the same period. With $1.5 billion in cash on the balance sheet, new store openings and a stock buyback program, Cramer said TJX appears to be firing on all cylinders.

That is, of course, until you consider its stock price, said Cramer. Shares of TJX are up 64% so far this year, and 15 of 20 analysts covering the company already have buy ratings on the stock. "Where's the upside," asked Cramer?

According to Cramer, TJX is no longer in control of its destiny, and the stock's best days may be behind it. Even management on the company's conference call lowered guidance and warned of tougher times ahead, he said. The problem? Cramer said TJX benefits by buying distressed merchandise from other retailers. But with the retail sector stabilizing, there simply isn't enough merchandise for TJX to buy.

Cramer said JX also benefited last year from the demise of rival Linens N' Things, an event that's now well priced into TJX shares. Cramer called TJX's conference call one of the worse of the quarter, noting that management offered no hope for improvement in the latter half of the year.

Mad Mail

Cramer told a viewer that

People's United Bank

(PBCT) - Get Report

is still a great bank to own as it's poised to assume the assets of failed banks.

He told a second viewer that

Flowserve

(FLS) - Get Report

would be a good company to own, but only if Washington were to endorse nuclear energy.

Lightning Round

Cramer was bullish on

Banco Bilbao Vizcaya Argentaria

( BBV),

Taiwan Semiconductor

(TSM) - Get Report

,

Corning

(GLW) - Get Report

and

First Solar

(FSLR) - Get Report

.

He was bearish on

Banco Santander

( STD),

Hudson City Bancorp

(HCBK)

,

Sony

(SNE) - Get Report

and

Suntech Power

(STP)

.

-- Written by Scott Rutt in Washington

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At the time of publication, Cramer was not long any stock mentioned.

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.