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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Monday May 16.

Bullish Calls:

Airgas (NYSE:ARG): "Many stocks are rolling over. There is a feeling in the market that we are at a juncture that is really important and bad. I don't think we are. I think the market is shading lower...that stock could go down to $63-64. I like Airgas, I like the CEO Peter McCausland."

Peabody (NYSE:BTU): "I think the coal market is terrific. People think it is rolling over because oil is coming down. I am a buyer of BTU...I think BTU is inexpensive, and I want to buy it right here and buy a little more if oil reaches its target of $90."

Potash (NYSE:POT): "I have constantly recommended Potash as the way to play fertilizer...I'm not backing away."

Bearish Calls:

Dollar Thrifty Automotive Group (NYSE:DTG): "You've got to bring that one in...that one is a win. Let's recycle that and keep it on the sidelines for lower prices. I absolutely believe the stock market can go lower before it goes higher. Keep your money in your pocket."

ConocoPhillips (NYSE:COP): "...reported a really nasty quarter. I have gone over it looking for a silver lining, and the only silver lining is it almost yields 4%. When it yields 4%, you can pull the trigger, but not right now, because it only yields 3.7% and it's going to go lower."

Deere (NYSE:DE): "...trim a little before it reports, because they tend to have a very rocky conference call...we want to buy it after that call."

Mosaic (NYSE:MOS): "... a lot of supply there. I have constantly recommended Potash as the way to play fertilizer...that is a better play."

Mellanox Technologies (NASDAQ:MLNX): "...good company, good semi. It, like many other companies, has run too much and not corrected yet. Take some off the table and circle back...we've got to be cautious."

Riverbed (NASDAQ:RVBD): "Here's the problem...it is an expensive stock. It is doing incredibly well, at the same time, it has a very high multiple. Right now those stocks are going down...I don't think there is any reason to take action here...down 4-5%, I would feel better. The collapse of the high-multiple stocks started today. That tends to last 2 or 3 days. It does not last one day."

ON Semiconductor (NASDAQ:ONNN): "...reported a terrific quarter...I think that is why you should take some off the table. Play with the house's money...take 25-50% off and watch what happens. Right now semis are coming in for sale. I think you get some at lower prices."

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Source: Cramer's Lightning Round - Keep Your Money in Your Pocket (5/16/11)