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Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Thursday September 7. Click on a stock ticker for more analysis:

Grain Price not a Cereal Killer: General Mills (NYSE:GIS), Kellogg (NYSE:K)

Higher grain prices are not a reason to shy away from cereal stocks, says Cramer, especially in a slowing market. In any case, he observes, the brand ingredients comprise only 11% of the price of a box of cereal, and the remaining expenses are for cardboard, plastic and transportation. Cramer believes that cereals such as Frosted Flakes do well because of consumer loyalty to a brand name and adds that while he likes K he prefers GIS.

Related: Erik Dellith discusses Kellogg's six month rally and its solid valuation.

Crocs (NASDAQ:CROX) Rocks!

Although the bulls and bears are evenly divided over this producer of comfortable shoes, which has a 28% short position, Cramer notes that Disney (NYSE:DIS), which obviously has faith in CROX, has made a deal with the company to put its characters on the shoes. In addition, Crocs has made an agreement with 70 colleges to design its shoes in school colors. Cramer explains that the short position is due to potential competition, but believes that CROX is a solid brand name, and should survive. He gives the stock a cautious "buy" and adds that, if the company doesn't make its quarter, it "will self-destruct in 30 seconds."

Related: Investopedia Advisor gives an in-depth analysis of CROX and is bullish on the company.

Sell Block: Valero (NYSE:VLO) and Wendy's (NASDAQ:WEN)

On his "Sell Block" segment, Cramer admitted that he had made a mistake on his July 27th show by assuming that a great quarter would mean a huge upside for Valero, which hardly moved. "I forgot the most important fact out there," he said, "This is about stocks, not earnings and looking right." At that time, the stock should have been sold, and Cramer recommends selling it now, since oil has reached its peak and VLO could fall. In the past, Cramer predicted lackluster same-store sales for Wendy's, and now admits that he was "wrong to rant against Wendy's."

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