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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Thursday November 15.

Bullish Calls:

Southwestern (NYSE:SWN): "Southwestern is the one I'm buying. That is my natural gas play. I think natural gas is going higher in 2013."

Isis Pharmaceuticals (NASDAQ:ISIS): "It is down a lot. You are buying on spec. We like spec ... but you have to recognize they can really get hammered if things don't work out."

CenturyLink (NYSE:CTL), Verizon (NYSE:VZ), AT&T (NYSE:T): "I like Centurylink, but I prefer Verizon and AT&T."

Kinder Morgan Energy Partners (NYSE:KMP): "I think it works. There is a rumor the MLPs are going to lose tax-favored status. I don't agree with that. I think that is wrong. I think KMP should be bought."

Bearish Calls:

Windstream (NASDAQ:WIN): "No, it didn't execute."

American Capital Agency (NASDAQ:AGNC): "This one is going to go down, because many of these companies are worried about taxation considerations ... There are so many headwinds here, but just keep in mind, it is just another stock right now, which means it can go down. It is no longer charmed."

Chesapeake Energy (NYSE:CHK): "CHK is down to $16. People are saying CHK is mainly natural gas in Ohio, but we already said it was mainly natural gas in Ohio. Why is that so revelatory? (Cramer recommends Southwestern instead)."

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Source: Cramer's Lightning Round - Natural Gas Is Going Higher In 2013 (11/15/12)