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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Monday March 31.

Respect the Rotation. Stocks discussed: Heinz (NYSE:HNZ), Kimberly Clark (NYSE:KMB), Johnson Controls (NYSE:JCI)

Cramer told a personal anecdote about sector rotation. When he started his hedge fund, he concentrated on stocks like Heinz (HNZ) and Kimberly Clark (KMB), because these are stable companies with consistent growth. This worked well until there was a dramatic sector rotation out of packaged goods and into industrials. Cramer decided to stick by his guns with KMB and HNZ, until his fund was down 9%. The rule at the hedge fund was that an underperformance of 10% meant that the money manager had to return all of the money. Forced to surrender, Cramer sold all of his stocks and bought industrials. The hedge fund went on to give an average of 24% gains annually compared to an 8% performance by the S&P 500. The moral of the story: Respect the rotation. It doesn't pay to adhere slavishly to one particular sector when the street changes its mind. Even best-of-breed can't perform well if its sector is facing headwinds.

Cramer took a call:

Johnson Controls (JCI) is a stock Cramer bought for his charitable trust, because all of its businesses are turning around, and the stock has not caught up yet.

Flash Boys. Stocks mentioned: GameStop (NYSE:GME), Calumet Specialty Products Partners (NASDAQ:CLMT), Yelp (NYSE:YELP), LinkedIn (NYSE:LNKD)

The talk on the street is Michael Lewis' new book, Flash Boys, in which he discusses the perils of high frequency trading and says the market is "rigged" by money managers and super-quick trades. While it would be patently illegal for a money manager to front-run a client, make a trade and sell the stock to the client, the use of high frequency trading creates a similar scenario, except that it is legal. The SEC seems unwilling to do anything about this issue, which came to the fore during the Flash Crash of 2010. While 70% of stocks are traded in high-frequency fashion, and the market does seem to be, in a sense, rigged, it is only rigged for the short-term. Cramer thinks there is still money to be made investing in stocks with long-term themes.

GameStop (GME) reported bad numbers but rose higher. People believe the second half of the year is going to be strong for GME.

Calumet (CLMT): Cramer is usually skeptical about double-digit yields, and wants to hear from management about why it is sustainable.

LinkedIn (LNKD) and Yelp (YELP) are good companies, but there is a rotation out of these stocks. These both are investments for the long term.

Kandi Technologies (NASDAQ:KNDI) Is Not Another Tesla (NASDAQ:TSLA). Other stocks mentioned: Polaris (NYSE:PII), Oracle (NYSE:ORCL)

Kandi Technologies (KNDI) is a Chinese manufacturer of utility vehicles, go-carts and motorcycles. The company is developing an electric car and has risen 350% in a year. Cramer would ring the register and take gains; he prefers Polaris (PII). KNDI reported decent earnings, but there is no way of knowing if the results are better than expected, because KNDI lacks analyst coverage. The stock fell from $21 to $16 in two weeks because of news of a secondary and of an announcement that KNDI is going to be investigated by the SEC. In the earnings report, KNDI tried to tuck this glaring fact in the middle of a 16 page list of risk factors. Cramer thinks KNDI became a hot stock because of the magic words "China" and "electric vehicles." He tends not to recommend stocks that have no analyst coverage, are investigated by the SEC and are based in China, because of the unknowns connected with its stock market.

Cramer took some calls:

Tesla (TSLA) is a consistent strong growth stock, but this market is looking for beaten up industrial and tech stocks like Oracle (ORCL). Growth stocks are in the doghouse now.

3 Disappearing Themes of 2013: Boeing (NYSE:BA), Hewlett-Packard (NYSE:HPQ), Gilead (NASDAQ:GILD)

1. Aerospace: Since Boeing's (BA) last quarter, the stock has given up the ghost, as the street is preoccupied with the notion that BA has an inventory glut. While management did discuss a slight supply issue, it said that the problem would clear up quickly. Cramer thinks that aerospace may take off after BA reports again.

2. Software as a Service: While there is no doubt this will be a strong long-term theme, currently the sector rotation out of consistent growers, along with the plethora of cloud IPOs, is hurting established cloud plays. Industrials and old-fashioned tech companies like Oracle and Hewlett-Packard (HPQ) that are ripe for a turnaround are taking some of the wind out of cloud's sails.

3. Biotech: This was probably the most important group in 2013, but with a dearth of mergers and an increasing number of IPOs, the sector is laggard. Gilead (GILD) is not reporting robust sales for its Hepatitis C drug, and this is hurting the more established biotech names.

Cramer doesn't think the problems in the biotech or the cloud plays will be solved in the very near future, but aerospace might turn around with the next strong quarter from Boeing.

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Source: Cramer's Mad Money - Respect The Rotation (3/31/14)