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Today's market action was a classic "Mutual Fund Monday," when large funds poured new money into the markets, Jim Cramer told the viewers of his "Mad Money" TV show Monday.

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He said the rally is being led by the Chinese recovery, which has now spilled over from just a consumer recovery to an industrial one that's beginning to lift the world markets as well.

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"The trickle of new money in the markets is now a flood," said Cramer. "And it's not done," he continued.

So what to make of all the negativity in the newspapers? Cramer debunked the five topics he's been reading about over and over again.

1. The banks won't pass the stress test. "Wrong," said Cramer. The stress tests are a good thing, and the banks are rallying as a result.

2. There's no bottom in sight for housing. Cramer said this simply isn't true, given the National Association of Realtors report today that said sales were up year over year in Florida and California.

3. Obama will use the Chrysler model to nationalize everything. In the real world, no one seems to care, he said. Obama is not as anti-capitalism as we thought, he added.

4. Construction stocks have rallied too far, too fast. Again not true, he said. Today's construction numbers were blistering hot, he said, making these stocks cheap.

5. Swine flu will kill the world's GDP. The fact of the matter is the threat of a swine flu pandemic is beginning to ebb, and just might not be as bad as everyone first thought.

Cramer said all of these negative stories have been overhyped. "Don't let them keep you out of the markets," he said. There are still opportunities to make money.

Uptick Rule Update

In a special interview, Cramer welcomed Sen. Ted Kaufman (D., Del.) to the show to the discuss the Securities and Exchange Commission's progress in reinstating the uptick rule, which was designed to limit the impact of short sellers on the market.

Kaufman said people have lost the feeling that they're getting a fair deal when it comes to Wall Street, and he said he's pledged to make sure the market remains "on the level" for all investors.

He said he hasn't given up on SEC chairwoman Mary Schapiro, and hopes she does the right thing by reinstating the uptick rule. However, Kaufman said he's prepared to proceed with a law that's received bipartisan support in the event that doesn't happen.

Kaufman said simply that there needs to be a rule, regardless of exceptions or technological hurdles. He said the resistance to the rule is coming from an SEC that doesn't want to admit its past mistakes, but needs to.

Cramer encouraged viewers to visit the SEC's website at sec.gov and leave their comments during the remainder of the public comment period on short selling reforms.

Reaching Into the Bag

Has the seemingly unstoppable tech rally gotten too hot? Cramer doesn't think so. He said not only is the tech rally here to stay, it's getting strong, broader and more powerful by the day.

Cramer said the logic behind the rally is simple: the more tech rallies, the more the momentum chasers pile in. "People love winning mutual funds," he said, adding that's why the big money is shoveling as much cash as it can into technology.

But where to invest? This rally started with the high quality tech names, like

Apple

(AAPL) - Get Report

,

Amazon.com

(AMZN) - Get Report

,

Google

(GOOG) - Get Report

and

Research In Motion

( RIMM), said Cramer.

And while these names are likely to continue trending higher, the real opportunity is now in the small, unloved and forgotten tech names -- the once mainstream, but now speculative names.

Cramer said one such company is telco equipment supplier

Tekelec

( TKLC), which makes the equipment needed to make text messaging and local number portability possible.

Tekelec is a play on both the expansion of cellular networks as well as the growth of text messaging, he said. In addition, the company has exposure to India, which not only has the world's faster growing cellular market but is ready to begin rolling out number portability.

Cramer called Tekelec a major opportunity. While now considered a speculative stock, the company has no debt and $4 per share of cash on its books. Out of the eight analysts covering the company, only one calls it a buy, leaving lots of room for future upgrades, said Cramer.

Mad Mail

Cramer told a viewer

Sociedad Quimica

(SQM) - Get Report

remains his favorite way to play the demand for better lithium-ion batteries.

Cramer told other viewers that he'd sell half a position in

Harley Davidson

(HOG) - Get Report

given the current state of affairs, but he would stick with

State Street

(STT) - Get Report

, which he also owns for his

Action Alerts PLUS portfolio, despite not receiving the favorable ruling on new accounting standards he was hoping for.

Cramer told another viewer that while

Con-Way Trucking

(CNW)

might get a bounce, he's a fan of

United Parcel Service

(UPS) - Get Report

, followed by

FedEx

(FDX) - Get Report

, before any trucking company.

Lightning Round

In the Lightning Round, Cramer was bullish on

JPMorgan Chase

(JPM) - Get Report

,

Dominion Resources

(D) - Get Report

,

Consolidated Edison

(ED) - Get Report

,

BE Aerospace

(BEAV)

,

Wynn Resorts

(WYNN) - Get Report

and

Clean Energy Fuels

(CLNE) - Get Report

.

Cramer was bearish on

MBIA

(MBI) - Get Report

,

Aqua America

(WTR) - Get Report

and

Las Vegas Sands

(LVS) - Get Report

.

Check out the latest edition of

"Cramer's Take onTop-Searched Stocks" on Stockpickr.

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Want more Cramer? Check out Jim's rules and commandments for investing by

clicking here

.

Read more of Cramer's Mad Money Lightning Round insights

.

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At the time of publication, Cramer was long State Street, JP Morgan.

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. 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.