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Stocks discussed on the Lightning Round segment of Jim Cramer's Mad Money Program, Thursday March 20.

Bullish Calls:

  • bluebird bio (NASDAQ:BLUE): "This comes under a different rubric of biotech. That is in the speculative portion, and the specs are going higher. The specs are going higher, the regular biotech stocks are not ... be careful and take some profits."
  • VMware (NYSE:VMW), EMC (NYSE:EMC): "VMW is it. This is the right one. EMC is also going up. VMW had a great quarter."
  • FireEye (NASDAQ:FEYE): "This is a high multiple tech stock, and the market is working these off. They have rallied big, are coming down, they are going to recharge and FireEye is going higher. I like FEYE right here."

Bearish Calls:

  • Celgene (NASDAQ:CELG): "This is a big position for Action Alerts Plus. That group is soft. It is not the group to buy right now, but once it gets to $140, you can buy it."
  • Pharmacyclics (NASDAQ:PCYC): "I still like it, but people do not want to buy these big cap biotechs. They are out of sync with the financial and tech rally, but you hold onto it."
  • Facebook (NASDAQ:FB): "This is another situation ... FB is like a lot of other big cap tech stocks that had high multiples. They are coming down, and low multiples are going up. There is a big rotation. I would hold FB. Our charitable trust owns it, and at $62 or $63, I'd buy more."

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Source: Cramer's Lightning Round - High Multiple Stocks Are Coming Down (3/20/14)