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"I am constantly amazed at how wired into the market kids are these days," Jim Cramer told viewers of his "Mad Money" TV show Thursday. Students, he said, are "savvy" and often know about stocks that "fly under the radar."

On

Wednesday Cramer visited the Kelley School of Business at Indiana University as part of the show's "Back to School" tour. It was there that a student pitched him

Spartan Motors

(SPAR) - Get Report

.

Frankly, Cramer said, he barely thought the stock was worth his attention. He thought it was levered solely to recreational vehicles, which he said nobody should want with oil prices going up as they are, and to Iraq, a "battleground in the stock market."

But then after doing some homework, Cramer realized the Indiana student was right about Spartan. Now he believes Spartan is indeed a buy and an "idea worth stealing." However, Cramer warned that the speculative small-cap name might not be right for everyone.

The company manufactures emergency vehicles, he said. Nearly 55% of the fire trucks in the U.S. are 15 years old and a huge liability for municipalities. That's a plus for shares of Spartan, which is levered to their liabilities, Cramer said. Spartan makes products that prevent lawsuits, he said.

In addition, Spartan's military motor segment makes vehicles covered with half an inch of steel. And now that the U.S. military is spending money to protect soldiers against road-side bombs, Spartan recently secured the second largest military chassis contract in its history, Cramer said.

Not only does its military division have "strong growth," but Spartan's RV business is also doing well because for some reason baby boomers, which make up a significant part of the population, like RVs.

He said he believes Spartan is worth buying on a pullback.

Am I Diversified?

During the show's "Am I Diversified" segment, in which viewers seek Cramer's blessing for their stock portfolios, the first caller offered the following five stocks:

Because JPMorgan and Goldman Sachs represent a pair, Cramer recommended discarding JP Morgan and getting into a health care stock like

Abbott Labs

(ABT) - Get Report

instead.

Cramer's next caller asked if she was diversified with the following five stocks:

Cramer called it a "dynamite portfolio" and blessed it as diversified.

His third caller said she owned the following five stocks in her portfolio:

Image placeholder title

Cramer blessed this list as well, calling it a "fantastic portfolio."

His last caller asked if he was diversified with these five stocks:

Cramer described the final caller's portfolio in one word: "fabulous."

Sell Block

In the show's "Sell Block" segment, Cramer told viewers he's putting homebuilders on the block.

He advised people sell

WCI Communities

(WCI)

, even though the stock hasn't done anything since he recommended it. Right now, Cramer said, he's "adamant homebuilders can't be owned."

In addition, he said he's concerned about real estate investment trusts and suggested market players sell

Simon Property Group

(SPG) - Get Report

.

It's also time to sell

Hologic

(HOLX) - Get Report

, Cramer said, because of recent reports that question the company's products.

Moving on to the rails, he advised swapping out of

Norfolk Southern

(NSC) - Get Report

and buying

Union Pacific

(UNP) - Get Report

, which he owns for his charitable trust, and which he said he likes more than Norfolk Southern.

Further, Cramer recommended selling

Greenbrier Companies

(GBX) - Get Report

and also reiterated his sell on

Coldwater Creek

(CWTR)

, even though he said it looks like it's starting to come back.

Although some of the semiconductor-equipment companies are being upgraded, Cramer believes they shouldn't be, and he told viewers to stay away from the group.

Moreover, Cramer said he believes

Gilead Sciences

(GILD) - Get Report

is now too expensive against

Celgene

(CELG) - Get Report

and advised investors to swap from the former to the latter.

In addition, now that Altria and

Kraft

(KFT)

have split up, Cramer clarified that he likes Altria, not Kraft. If people own both, he said they should "boot" Kraft and keep Altria.

Finally, he said it's tough to pinpoint what's wrong with

Take-Two Interactive

(TTWO) - Get Report

, which is why he wants people to sell it.

Mad Mail and Sudden Death

In the show's "Mad Mail" segment, Cramer agreed with a viewer who wrote in about

Deere

(DE) - Get Report

, advising viewers to "back up the truck," that is, load up and buy the stock.

Taking a longer-term view on the stock, he said, "we are in a secular bull market in farming" and for that reason he believes Deere should come back.

Responding to anther viewer, Cramer named

Coca-Cola

(KO) - Get Report

as a play on American consumer brands in Japan.

During the show's "Sudden Death" round, Cramer was bullish on

ConocoPhillips

(COP) - Get Report

,

Qwest Communications

(Q)

and

American Ecology

(ECOL) - Get Report

.

Lightning Round

Cramer was bullish on

Celgene

(CELG) - Get Report

,

Level 3 Communications

(LVLT)

,

First Solar

(FSLR) - Get Report

,

Saks

(SKS)

,

VF Corp.

(VFC) - Get Report

,

J.C. Penney

(JCP) - Get Report

,

Polo Ralph Lauren

(RL) - Get Report

,

Inergy

(NRGY)

,

Monster Worldwide

(MNST) - Get Report

,

American Tower

(AMT) - Get Report

,

Vaalco Energy

(EGY) - Get Report

,

Exxon Mobil

(XOM) - Get Report

,

Transocean

(RIG) - Get Report

and

GlobalSantaFe

(GSF)

.

Cramer was bearish on

Geron

(GERN) - Get Report

,

FuelCell Energy

(FCEL) - Get Report

,

Acadia Pharmaceuticals

(ACAD) - Get Report

,

Harley-Davidson

(HOG) - Get Report

,

Walgreen

(WAG)

and

Energy Partners

(EPL)

.

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

.

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

clicking here

.

At the time of publication, Cramer was long Altria, Goldman Sachs, Marvell Technology, NYSE Euronext, Sears Holdings, Transocean and Union Pacific.

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.