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Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Tuesday December 12. Click on a stock ticker for more analysis:

New IPOs on The Street: IPG Photonics (NASDAQ:IPGP), Guidance Software (NASDAQ:GUID) and Artes Medical (ARTE)

Since this is a busy week for IPOs, Cramer outlined some strategies for deciding which IPOs to buy and which to avoid. Investors should pay attention to the IPO's price, its "hotness," and to ask whether the company is desperate and if the stock should be "tossed back." He also said that it is important to have an idea of what price to sell the stock and to use limit orders when buying. Fiber laser manufacturer, IPG Photonics is expected to trade between $13.50 and $15.50. Cramer said it should come public for $11.50, but if it reaches the middle range, it will be more pricey than its competitors. However, he thinks the stock deserves to sell for a premium, and he likes the laser company which garners 60% of the market. Cramer comments that it has good growth potential and could be developed into a core holding. He suggests letting the stock calm down a little and to put the first limit order for this "cream of the crop" company between 10:30 a.m. and 11:30 a.m. Guidance, which sells digital investigation software to one-fifth of the Fortune 500 companies, is Cramer's "price is right" stock. He likes its high gross margins and the fact that it is a "pure play on digital forensics." However, it is not so "hot" because it has competition, but it is not a "desperation offering." Cramer would buy the stock anywhere up to $18 and definitely not above $20. Cramer says that Artes is " a triple sell to the third power" even though it has yet to go on sale, because it has no revenue and only one product, ArteFill, which seems like a great wrinkle treatment, but Artes can't get approval from the FDA for ArteFill as a permanent wrinkle solution and it allegedly can cause skin inflammation. "There's no room for Artes," Cramer said.

Related: Abbi Adest captures key points on the IPG Photonics and Guidance Software IPOs.

Mad Mail: Boston Scientific (NYSE:BSX), Capital Southwest Corp. (NASDAQ:CSWC), NightHawk Radiology Holdings (NHWK)

When asked about Boston Scientific, Cramer called the stock "dead money" and said that he expected a jump that didn't happen. When asked why CSWC fell 20 points after the Heelys' IPO, Cramer said that people went crazy with the stock, and frenetic activity caused temporary instability, but he reassured investors that it will eventually go back up. Cramer also recommended staying in NHWK.

Related: The FDA approved BSX's and Johnson & Johnson's drug-coated stents.

More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Market Minute.

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Source: Jim Cramer's Mad Money In-Depth Stock Picks, Dec. 12