Mad Mail

Cramer followed up on Breitburn Energy ( BBEP), which stumped him in an earlier show. He said that this company's natural gas exposure is worrisome and he'd stick with pipeline players Kinder Morgan Energy Partners ( KMP) and Energy Transfer Partners ( ETP).

Cramer also followed up on supercomputer maker Cray ( CRAY), a stock he said was speculative with lumpy sales. He called the company "incredibly risky" and preferred EMC ( EMC) instead.

When asked about Sabesp ADS ( SBS), a water and sewer company serving Latin America, Cramer said he missed the move and needs a "serious pullback" to consider buying in.

Finally, when asked about Renren ( RENN), Cramer gave his standard answer to all Chinese stocks. He said he would only own Baidu.com ( BIDU).

Lightning Round

Cramer was bullish on Abiomed ( ABMD), Citigroup ( C), International Paper ( IP), Boardwalk Partners ( BWP) and Travelers Companies ( TRV).

Cramer was bearish on Lincoln National ( LNC) and Applied Materials ( AMAT).

'No Free Passes'

In his "No Huddle Offense" segment, Cramer said recalled one of his most prized lessons on Wall Street, one that stemmed from the late CNBC host Mark Haines, and said simply "no free passes." Cramer recounted how Haines, back in the heyday of the dot-com boom, didn't give in to the relentless enthusiasm of the day and instead asked the CEOs of newly-minted companies the tough questions, especially if those CEOs were not yet making any profits.

That's why, when sitting next to the CEO of the Yelp ( YELP) earlier today, Cramer said he was obliged to follow in Haines' footsteps. He said while many investors are excited for the Yelp IPO, the fact remains that this decade-old company has no profits, nor any track record of making money for its shareholders or paying a dividend.

If profit is the goal, said Cramer, than owning the stock of Yelp is just too risky for this unproven company. "No free passes," he concluded.

--Written by Scott Rutt in Washington, D.C.

To contact the writer of this article, click here: Scott Rutt.

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