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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Tuesday October 4.

Bullish Calls:

Kinder Morgan Partners (NYSE:KMP): "That is exactly what you need. It was down $63-64. That stock is yielding 7%. That is your play."

Chesapeake Energy (NYSE:CHK): "I think CHK is terrific. CEO Aubrey McClendon is talking about putting a lot of people to work, producing a lot of natural gas. We have to get the President behind it, and the stock will go to $40. If we don't get that, it will inch its way to $30."

Edwards Lifesciences (NYSE:EW): "That is one of my favorites. I can't believe it went down to $70. It is really terrific."

Skyworks Solutions (NASDAQ:SWKS): "Skyworks is okay...it could be bottoming here...good company."

EMC (NYSE:EMC), Red Hat (NYSE:RHT): "EMC's stock was barely up today...that's got some long-term staying power. Or how about Red Hat?"

IBM (NYSE:IBM): "...is terrific. It got knocked down a couple of bucks...that is one of the best stocks in show. It is great."

Bearish Calls:

Toll Brothers (NYSE:TOL): "Is the best house in a bad neighborhood...that's not good enough for me...the house of pain...it could go down to $15. I don't want to own it."

Sprint (NYSE:S): (concerning Sprint's deal with Apple for the newest iPhone) "I gotta tell you. They spent so much money, if reports are right...it is not good enough...I don't like what they did...It was an act of desperation."

Salesforce.com (NYSE:CRM): "That is the kind of stock that fits the description of high-flyers. Not right now. I think the business is strong, but that is not enough to carry it. I want to wait. If you want to touch it, deep in the money calls only. "

TriQuint Semiconductor (TQNT): "...No."

Cree (NASDAQ:CREE): "I've got some really great stocks and Cree is not one of them (Cramer suggested buying EMC instead)."

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Source: Cramer's Lightning Round - Toll Brothers' House Of Pain (10/4/11)