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A cautious Jim Cramer told viewers of his "Mad Money" TV Show Monday that despite the market's 413-point rally today, he's still taking things one day a time.

Cramer was cheered by a bit of positive news that the market is near a bottom in Excelon's ( EXC) bid to purchase NRG Energy ( NRG), at a 37% premium from Friday's close. He encouraged NRG's CEO, David Crane, to accept the gracious offer.

In typical Cramer fashion, he drove his point home by adding three new CEO's to his "Wall of Shame" list of the worst executives. They included Straus Zelnick, of Take Two ( TTWO), Oleg Khaykin, of International Rectifier ( IRF), andJohn Lauer, of Diebold ( DBD), all of who rejected gracious takeover bids only to watch their stock price plummet afterward.

International Rectifier received a takeover bid on Aug. 15 for$22.15 a share and rejected it, despite closing the previous day at $18.82 a share. The stock currently trades at just over $14.

Take Two received a bid from rival Electronic Arts ( ERTS) on Feb. 26 at a 64% premium to its share price. That offer too was rejected. Take Two now trades at roughly half that value.

Finally, Diebold rejected a takeover bid it received on March 2 from United Technologies ( UTX) for a $40 a share, a 65% premium to its share price. That stock now trades at $28 a share.

Cramer said the Excelon-NRG bid tells us two things. First, companies are starting to see value in their rivals, and second, "when you get a bid, you say 'yes!'"

Cramer: Exelon-NRG Deal Should Happen

The Curse of Lehman

Cramer said he's been hard on the case to find out why shares of Linn Energy ( LINE) have been hit especially hard since his Oct. 2 recommendation of the company. He talked with Linn chairman and CEO Michael Linn to get to the bottom of the situation.

Stockpickr

Cramer cited Linn Energy as an example of collateral damage from the forced liquidation of Lehman Brothers, probably one of the biggest blunders in the financial crisis.

Linn confirmed that the failed Lehman Brothers was the company's largest shareholder, and that when the brokerage collapsed, large blocks of Linn stock were liquidated at record speeds.

While the failure took its toll on the share price, Linn said, it did not affect the company's operations, and all of its hedged production was re-hedged with other banks.

Linn said that Lehman still owes the company $68 million, but does not see that amount affecting operations, or the company's 17% dividend yield.

Cramer said the case of Linn is a perfect example of a broken stock and not a broken company. He said he likes the company as a capital preservation stock, with its $100 million buyback and its high-yielding dividend.

Cheap Oil Play

With oil plummeting from $147 to just $75 a barrel, Cramer continued his hunt for stocks that benefit from falling crude prices.

He said obvious choices such as Tupperware ( TUP) just don't work, since any savings from low cost resin is offset by lower sales in a weak economy. But there is one stock that Cramer said he'd be a buyer of.

BankingMyWay

That's medical supply company Becton Dickinson ( BDX), which not only benefits from lower oil prices, but also shines bright in a weakening economy. He called the company a sister stock of his other favorite oil play Kimberly Clark ( KMB).

Becton Dickinson is a solid performer, growing at 12% to 15% a year. Sixty-five percent of the company's sales comes from markets where it is the No. 1 or No. 2 player. Additionally, 35% to 40% of Becton's sales are derived from needles, syringes and infection-control products, all highly recession-proof items.

Cramer said Becton has been hurt by a large hedge fund short position, which has been betting on the price of resin, which represents 7% of its raw costs, to remain high. But with only three to five months of resin inventory in stock, Cramer said lower resin prices should start hitting the company's bottom line in early 2009.

Becton currently trades at just 14.4 times next year's earnings, a lower multiple than its historical level of 16 to 24 times. With a 13% long term growth rate, Cramer said BDX is cheap, and could fetch as much at $89 a share, or a 23% premium.

Mad Mail

In this segment, Cramer told a viewer that he cannot recommend Psychiatric Solutions ( PSYS) based on a new bill that Congress recently passed. Cramer said he foresees too many rocky quarters for the company before the bill takes effect.

Cramer told another viewer he still likes Quanta Services ( PWR), a stock which he owns for his charitable trust, Action Alerts PLUS.

Lightning Round

Cramer was bullish on Joy Global ( JOYG), McDonald's ( MCD) and Apple ( AAPL).

Cramer was bearish on Eagle Materials ( EXP), Arch Coal ( ACI) and Sherwin-Williams ( SHW).

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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 Quanta Services.

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.

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