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In a market like this, what people are looking for is a big, fat bottom, Jim Cramer told viewers of his "Mad Money" TV show Monday. By spotting a bottom, players put themselves in a favorable position.

"I'm going to show you what a bottom looks like in a stock kingdom," Cramer said, explaining that a bottom is a stock that shouldn't go down any further, other than maybe a tad.

A company is at its bottom when bad news can't knock it down any further. Some people are looking for a bottom in the technology sector, but Cramer doesn't believe there is one.

There are players that believe

Intel

(INTC) - Get Report

or

Microsoft

(MSFT) - Get Report

, which Cramer owns for his

Action Alerts PLUS charitable trust, might be bottoms. But these stocks are selling too high to be regarded as bottoms, he said.

The same thing goes for

Cisco Systems

(CSCO) - Get Report

and

Sun Microsystems

(SUNW) - Get Report

. These are not bottoms, Cramer said.

"It's all about the price-to-earnings multiples," he said. "We want to look for stocks with very low multiples."

Houston Exploration

(THX)

, a company that explores natural gas and oil reserves in North America, is an example of a stock that was once a bottom. It was appreciably cheaper, Cramer said.

WCI Communities

(WCI)

is a bottom now, he said.

The stock of this builder of high-end homes for retiring baby boomers could be dynamite in three or four years. When the

Federal Reserve

stops raising rates, this is a stock you could pull the trigger on, he said.

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"Why do I think this baby got back? Because it just reported the single worst quarter of the year," said Cramer.

After reporting an abysmal quarter, this stock is down to next to nothing and sooner or later it should come up, so market players could make some money off of it over the long haul.

"The guys running WCI probably won't let the stock go any lower," Cramer added. "The bottom line is WCI is the place to be."

Executive Worries

Evan Jones, the longtime CEO of

Digene

(DIGE)

, just quit, for what seems like no reason, said Cramer. It's time to get out of this stock, he said.

"When high-ranking people leave for personal reasons, I think you'd better leave the stock for financial reasons," Cramer said, although he believes Digene is one of the few biotech companies that hasn't been a dog this year.

The only thing worse than a CEO leaving unexpectedly is if a CFO leaves in that manner, he said. The latter scenario is beyond scary.

Generally, CEOs don't leave a company to spend time with their families, Cramer said. Sometimes the downside can be as bad as you can expect, that's why Cramer recommends selling the stock of such a company, even if there is a 1% chance of a downside.

"You could call this paranoia, but wouldn't you rather be paranoid and sell a stock," asked Cramer, than risk something being terribly wrong? The potential upside is that Digene stock might go up $7, and on the potential downside, it could go down by who knows how much.

"I don't like the odds and you shouldn't either," Cramer said. "I don't see anything wrong with the company, but taking a just-in-case approach to investing, I would rather be safe than sorry."

For example, when CEO Jeff Skilling resigned from Enron, the stock got pancaked; and when

Nortel

(NT)

COO Clarence Chandran resigned, things became worse for that company.

"Digene a very good company, and I think the whole biotech

sector is a smart place to be, but you need to sell this ASAP," Cramer said. "Once we have more information, you can get back in the stock, but for now to be safe, get out."

When a caller asked if he should get out of

Wrigley

(WWY)

since a senior executive resigned today, Cramer said he doesn't believe the executive was important enough for the caller to dump the stock.

A Dog Star

To have an edge in investing, you have to be able to separate information from hype, Cramer said. Press releases don't equal money, he said. You have to see though the hype and search for the truth.

Looking at

TiVo

(TIVO) - Get Report

, Cramer said this is a stock people are familiar with because they know the product.

"If I was still at my fund, I would write a pros and cons list," he said. "This company has three legitimate things going for it."

Analysts have had a bearish outlook on this company for months. They are not giving enough credit to TiVo for reaching a DVR deal with

Comcast

(CMSCA)

.

Secondly, the company just won a patent ruling against

EchoStar Communications

(DISH) - Get Report

.

And third, the company has a great CEO, Tom Rogers, Cramer said.

The cons list for the company includes the fact that digital video recording is becoming commoditized. Since its technology is being duplicated, the company doesn't offer the only option, Cramer said. TiVo has lost its uniqueness.

In addition, the stock is trading lower than it has in the past. Even though TiVo's being eaten alive on the DVR front, it has no plan to get out, Cramer said. Also, its growth has been erratic.

But although this stock is uninvestable, it is not untradeable.

"You can trade volatile stocks for a lot of money," Cramer said. "TiVo is a dog of an investment, but could be a good stock to trade around."

Lightning Round

Cramer was bullish on

Trump Entertainment Resorts

(TRMP)

,

Alkermes

(ALKS) - Get Report

,

Consolidated Edison

(ED) - Get Report

,

Finisar

(FNSR) - Get Report

,

MasterCard

(MA) - Get Report

,

EuroZinc Mining

(EZM) - Get Report

,

Corning

(GLW) - Get Report

,

Netgear

(NTGR) - Get Report

and

Coach

(COH)

.

Cramer was bearish on

Quidel

(QDEL) - Get Report

,

Portland General Electric

(POR) - Get Report

,

Express Scripts

(ESRX)

,

Comtech Group

(COGO)

,

Georgia Gulf

(GGC)

and

Universal Display

(PANL) - Get Report

.

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

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

clicking here

.

At the time of publication, Cramer was long Microsoft.

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."

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Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. 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.