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Jm Cramer told the viewers of his "Mad Money" TV show that he's thrilled with Monday's market decline.

He said every bull market has pullbacks, but those are just opportunities to buy stocks even lower than they were yesterday.

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Cramer said with all of the bad news out today, the market's should've been down huge. Yet by the end of the day, the markets were essentially flat, almost turning positive on the news. This is a good sign, said Cramer, who turned bullish on the markets back at Dow 6,500.

Cramer reminded those who followed his lead back then, that the market has now rallied almost 20% from those lows. He said simply, "when the facts changed, I changed my mind."

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But Cramer also cautioned viewers that a monster move like this one we've just see is a typical year's worth of gains, so investors would be hogs if they didn't ring the register and take their gains.

"If you're a bear, it's game over," said Cramer. But if you're long the market, Cramer said the turn has come, and while companies may still be reporting on their horrible quarters last quarter, the outlooks going forward have consistently indicated the worst is now behind us.

Too Good to Wait

Breaking with tradition, Cramer recommended a speculative stock on a Monday rather than the typical Friday. He said the story at

Siliconware Precision


was so good it just couldn't wait.

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On the heels of his recommendations of

Taiwan Semiconductor





, Cramer said Siliconware is the new semiconductor stock that's poised to break out.

Citing a recent article in the trade magazine


Siliconware is experiencing a 28% boost in sales due to increased demand from its customers. This occurred while the back-end semiconductor manufacturer reported a decline in production, citing only a 55% to 65% utilization of its facilities in March.

Cramer said the story at Siliconware is simple: Demand is outstripping supply after every gadget maker out there cut inventories too far. This leaves a huge opportunity for semiconductor plays like Siliconware to post better-than-expected numbers.

Siliconware provides manufacturing, testing and packaging services for over 100 customers, including giants such as







After aggressive cost cutting, head-count reductions and assembly line closures last year, Cramer said the company is now poised for huge moves, according to the


article. The company also sports a solid 8.5% dividend yield.

A Strategy for Bank Stocks

What should investors do with the bank stocks right before earnings season, but after a huge rally?

It depends on the bank. According to Cramer, the new mark-to-market accounting rules will be a win for some banks, but not all. He said the important thing to investors to note is that going forward, the banks should have an easier time.

Cramer said the big winners in the mark-to-market changes are

Goldman Sachs



JPMorgan Chase


, two stocks which he owns for his charitable trust,

Action Alerts PLUS. He said Goldman doesn't even have mortgages on its books, while JP Morgan has always been realistic about the assets it's holding.

Also on the buy list were

Bank of New York



State Street


, both of which he's dealt with in depth in recent weeks.

On the sell side, Cramer said he's a seller of all the regional banks, most of which won't benefit from the new accounting rules, but still have huge numbers of bad mortgages on their books.

Among the list to sell are







US Bancorp



Key Bank


, but Cramer noted that when he says to sell all of the regional banks, he means all of them.

Finally, Cramer said he sees a bright spot in two thrift banks that never went nuts in the first place:

Hudson City Bancorp



New Alliance

( NAL).

Cramer's Scorecard

Sometimes the sell recommendations are more important than the buy recommendations, Cramer told viewers.

On April 2, Cramer released the casino stocks from his "Sell Block" list of stocks that cannot be owned.

Since then

MGM Mirage


is up 76%,

Las Vegas Sands


is up 12.7% and

Wynn Resorts


is up 16.2%.

Cramer said investors need to ring the register now, and take profits in these names.

On Feb 5, Cramer told viewers to sell the online education stocks, another correct call.

Apollo Group


has fallen 18% while rival



has slipped 19%.

The only online education stock Cramer recommended,

American Public Education


, is up 25% since Cramer went positive on the company on Jan 9. He suggested taking profits there as well.

Finally, Cramer reminded viewers that he recommended selling

Sun Microsystems

( JAVA) in the Lightning Round last week. That stock is down 22.7% today as Sun's board of directors rejected a takeover bid.

Lightning Round

In the Lightning Round, Cramer was bullish on




Boston Scientific






Terra Nitrogen



Pan American Silver






Cisco Systems



General Mills



Dominion Resources



He was bearish on




United States Steel



Lockheed Martin






Vertex Pharmaceuticals






Vimpel Communications



GrafTech International



Duke Energy



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


For "Mad Money" performance statistics and other links, check out Mad Money stats

At the time of publication, Cramer was long Goldman Sachs, JPMorgan Chase, Celgene, General Mills.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 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, 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, 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 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, 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.