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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Thursday October 21.

CEO Interview: Jason Rhode, Cirrus Logic (CRUS), Apple (AAPL)

Cramer said he felt disappointed by Cirrus Logic's (CRUS) most recent quarter which sent the company's stock price down. He assumed the stock was a winner because Apple is one of its main clients, but Rhode indicated that the company is levered to older, more economically sensitive products. While the company is planning to buy back $20 million in shares, Rhode said the main concentration will be growing earnings and developing new products that will enable the company to raise their selling prices. Because Cramer was such a believer in Cirrus, he said he feels the company let him down, and he has to see a good quarter before he is ready to recommend it again.

Cummins Engine (CMI), Eldorado (EGO), SPDR Gold Trust (GLD), Boeing (BA), Precision Castparts (PCP), Navistar (NAV), Eaton (ETN), Johnson Controls (JCI), Ingersoll Rand (IR), Monro Muffler (MNRO), O'Reilly Automotive (ORLY), Autozone (AZO), Deere (DE), Agrium (AGU), Mosiac (MOS)

With the Dow fluctuating wildly on headlines, the best strategy is to focus on buying bull market stocks on declines. For the gold bull market, Cramer would buy Eldorado (EGO) which dropped 4% on Thursday or Goldshares ETF (GLD). In aerospace, Boeing (BA) and Precision Castparts (PCP).

Cummins (CMI) and Navistar (NAV) are great ways to play the auto and truck space. Eaton (ETN) has its finger on the button of a trend in a great long-term story; energy savings. Johnson Controls (JCI) and Ingersoll Rand (IR) are also developing technologies to save energy.

Monro Muffler (MNRO) reported a monster quarter, but the stock got taken down with the rest of the market on issues that don't even pertain to the company - the dollar and China. Cramer sees the decline as a buying opportunity, and would also take a look at O'Reilly Automotive (ORLY) or would buy some deep in the money call options in Autozone (AZO).

The coming worldwide food shortage make Deere (DE), Agrium (AGU) and Mosiac (MOS) buys. DuPont (DD) is a buy for its seed and chemical businesses. The bull market in chemicals, particularly those that go into industrial plastics makes LyondellBasel (OTC:LALLF), Dow Chemical (DOW), and PPG (PPG) worth investing in.

CEO Interview: TJ Rogers, Cypress Semiconductors (CY)

Cypress, producer of chips for handheld devices, reported a respectable quarter with a one cent earnings beat, and yet its stock was taken down because of light revenues. Because the company made it clear that its long-term story was intact, the stock jumped back. Cypress is up 28% since Cramer's endorsement in January, and has tripled since he recommended it September 26th 2008. The company now has record gross margins at 60% and is buying back an impressive $600 million worth of shares.

Cypress currently is developing controller chips which facilitate communcation between a computer and a smart phone. The company is taking market share in its development of chips for better smartphone memory. The company has replaced $3.5 million worth of mechanical buttons for its capacitive sensors. Rogers summed up what the company does:

To quote an old boss of mine, Jerry Sanders, at Advanced Micro Devices, we are the crude oil of the electronics industry... so what we put into the pipe is what comes out. So the components we make, the investment we do... the guys making phones they look at it and say, how an we use that... how can we one up the other guys. It's really a partnership in a food chain where we're a significant part of it.

Cramer says Cypress is the company you reach for whenever it goes down, and he would use limit orders when buying.

CEO Sandy Cutler, Eaton (ETN)

Eaton, the industrial manufacturer of products for all kinds of vehicles and various energy-saving solutions reported a strong quarter with a 22 cent earnings beat, a revenue increase of 18% and raised guidance. Cramer recommended the stock in the midst of the credit crisis in 2008, and now the stock is up 61%. Following earnings, the stock rose to its 52-week high, and currently, Eaton is up 10% from when Cramer interviewed Sandy Cutler in August.

Sandy Cutler discussed the exciting future in energy conservation in all markets. While the company has significant worldwide demand for its products, now there are some late-cycle businesses, especially aerospace, which should kick in for long-term growth. Eaton is benefiting from strong demand from truck and bus companies in Latin America, and sees demand picking up in Northern and Southern Europe. Cramer thinks Eaton is a buy with "so many ways to win."

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Source: Cramer's Mad Money - Cirrus's Serious Disappointment (10/21/10)