A caller asked about Martha Stewart Living Omnimedia ( MSO). Cramer said MSO is trading down because the reviews from the first of her two new TV shows have been "not positive." However, Cramer believes her second new show due out later this fall will be better received. He "remains a buyer."

A caller asked if Corning ( GLW) was a buy. Cramer said if the stock traded under $19, he would "issue a 'mon back*." Corning traded at $19.38 late Thursday.

In his weekly "Stump Cramer" segment, in which listeners ask about obscure and not-so-obscure stocks, Cramer commented on Tarrant Apparel Group ( TAGS) and Sherwin-Williams ( SHW). Cramer said Tarrant is a "pretty good" company, and he doesn't "understand why the stock is so low." Sherwin Williams is a "fabulous stock" with "conservative" management.

Commenting on Bear Stearns ( BSC), which reported earnings Thursday, Cramer said Bear reported a "beautiful quarter," and he wished he could buy the stock.

Cramer also reiterated his bullishness for Lucent ( LU), saying the company has "oodles of cash" that is helping the company turn around. He believes the stock could trade to $5 from Thursday's $3.07.

Cramer said the tech rally in cell phones, video games and big screen TVs is "pausing." We're in the "toughest part" for the next couple weeks, he said. Furthermore, he is "cautious" on the market and is keeping a hefty position in oil stocks. Cramer said he has the "largest cash position I've ever had" since starting his charitable trust portfolio.

Finally, Cramer said Georgia-Pacific ( GP) is now confirming what Cramer has been saying, that there is a lumber shortage. Weyerhaeuser ( WY), Georgia-Pacific and Plum Creek Timber ( PCL) are "all up in a so-so day." Cramer is bullish on all three.

*For all you home-gamers, a 'mon-back opportunity means Cramer would back up the figurative truck and load up on a stock.

A the time of publication, Cramer was long GameStop, Lucent and Motorola.

James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict."

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