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Here's what Jim Cramer had to say about some of the stocks that callers offered up during the "Mad Money Lightning Round" Wednesday evening:

ABX Air: "I think the stock is cheap at 8 bucks. I wanna do a 'mon back* right here on this freight forwarder."

Ceradyne: "The pullback is wrong. All of the big defense plays have been going up. ... I think at the 54 level you have a winner, not a loser, and I am staying bullish."

Medtronic: "May I suggest you take profits in Medtronic?" Cramer recommended Boston Scientific or St. Jude Medical instead.

AVI BioPharma: "Nothing special, my friend. Nothing past phase II in FDA approval process that I think matters. ... I'm bearish on it."

Orckit Communications: "I would rather see you in the U.S. fiber optic plays."

Sears Holdings: "I regard 132 as just a way station ... I think it goes to 175."

RF Micro Devices: "There's still some 'mon back to do even though it's at a 52-week high."

Zoltek: "We identified it literally 6 points ago ... and it ain't done going up."

Taser: "I think Taser at 10 is too high. I think it deserves to pull back."

Pacific Ethanol: "I think PEIX at 18 with oil at 62 is a mistake. It should be at 23 and I think that is where it's going."

Best Buy: "I like Best Buy and I like its Chinese initiative. I think it's too cheap and may I throw in that Costco is too cheap, too?"

CSX: "On a pullback, you do a 'mon back."

" Morgan Stanley does not deserve to be in the same cohort as the new big three: Goldman, Lehman and Bear."

CBOT Holdings: "Good; I like the CME ( Chicago Mercantile Exchange) more."

Lightning Round

Cramer was bullish on ABX Air ( ABXA), Goodyear Tire & Rubber ( GT), Ceradyne ( CRDN), Advanced Micro Devices ( AMD), Broadcom ( BRCM), National Semiconductor ( NSM), Marvell ( MRVL), Boston Scientific ( BSX), St. Jude Medical ( STJ), JDSU ( JDSU), Avanex ( AVNX), Ciena ( CIEN), MRV Communications ( MRVC), Finisar ( FNSR), Sears Holdings ( SHLD), RF Micro Devices ( RFMD), Zoltek ( ZOLT), Pacific Ethanol ( PEIX), Best Buy ( BBY), Costco ( COST), CSX ( CSX), Goldman Sachs ( GS), Lehman Brothers ( LEH), Bear Stearns ( BSC) and CBOT Holdings ( BOT).

Cramer was bearish on: ON Semiconductor ( ONNN) Medtronic ( MDT), AVI BioPharma ( AVII), Orckit Communications ( ORCT), Vail Resorts ( MTN), AspenTech ( AZPN), Taser ( TASR), Genentech ( DNA) and Morgan Stanley ( MS).

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

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At the time of publication, Cramer was long Sears Holdings.

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."

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