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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Wednesday August 15.

Do Not Trade These Three Stocks: Apple (AAPL), Amazon (AMZN), Google (GOOG). Other stocks mentioned: Arena Pharmaceuticals (ARNA), JDS Uniphase (JDSU)

While dividend stocks have served investors well, non-high yielding tech giants have been heading the rallies of late. Apple (AAPL), Amazon (AMZN) and Google (GOOG) are stocks that are always on the cutting edge. The number one mistake investors make with these three is they trade them rather than owning them. On any decline, Cramer would buy these three with a view to holding onto them for the long-term.

Cramer took some calls:

Cramer reiterated that he does not buy a stock on a takeover rumor if it does not have strong fundamentals. For that reason, he would not buy Arena Pharmaceuticals (ARNA) or JDS Uniphase (JDSU).

CEO Interview: David Demers, Westport Innovations (WPRT). Other stocks mentioned: Cummins (CMI), Caterpillar (CAT)

It doesn't appear that either presidential candidate is going to get behind legislation to provide tax incentives to businesses that use natural gas vehicles for their trucks. This might seem like bad news for companies like Westport Innovations (WPRT) that creates the technology for trucks to run on natural gas, but CEO David Demers believes the industry can get the job done without the hand of the government, and he even thinks it might be better for the industry if the government doesn't intervene with regulations. WPRT has partnerships with Cummins (CMI) and Caterpillar (CAT), and even though it reported an earnings loss, the loss was less than expected, and revenues grew an astounding 136%. The stock rose 4.5% following earnings, but it is still well below its highs. The stock has risen 213% since Cramer got behind it in 2010 and 23% since June. The stock is not loved by analysts; three analysts have given it a Sell rating. However, Westport might just change analysts' minds.

China is building out its infrastructure to use liquified natural gas, and while the U.S. seems to be lagging, it is not far behind. "We are on the verge of a revolution in North America," Demers said. "We see nothing but enthusiasm everywhere we go ... there is immense opportunity." While there are only 2 natural gas filling stations in Chicago, Demers sees this as an opportunity rather than a liability. He pointed out that some trucks that were intended for commercial use are being used by consumers, and owners of passenger cars are going to be driving demand.

Cramer thinks Westport is a speculative stock. If investors believe the natural gas industry can make it without the government, they should buy the stock now. If not, they should wait for a pullback.

MarkWest Energy Partners' (MWE) Secondary Is Worth a Second Look. Other stocks mentioned: Walter Energy (WLT), Enbridge Energy (EEP), Phillips 66 (PSX)

Those who believe in the rise in natural gas engines should also believe in MarkWest Energy Partners (MWE), which gathers and processes natural gas. The stock has a 6.3% yield, but got pummeled after announcing a secondary offering, the third secondary so far this year. However as oil prices rise and if natural gas prices bounce back, these secondaries might actually pay off. Out of the four secondary offerings MWE did last year, 3 rewarded investors handsomely, and while recent secondaries of similar companies have not been so successful, the industry has been facing significant challenges that might become tailwinds. MWE has extensive exposure to the Marcellus and Utica shales, and expects to increase its dividend payout by 10% each year. Currently 40% of MWE's business is fee-based, and it expects to raise that figure to 65%; fee-based business models provide significant earnings visibility. The worst case scenario, said Cramer is that MWE will get knocked down again, but then investors can buy more and benefit from a higher yield.

Cramer took some calls:

Walter Energy (WLT) is not a buy on a takeover rumor, because its fundamentals are declining.

Enbridge Energy Partners (EEP) has had some problems with spills, but it is a good company and a great pipeline play.

"Phillips 66 (PSX) Rocks!" said Cramer.

The Retail Rally Is Not a Zero Sum Game. Stock mentioned: Home Depot (HD)

Retail stocks are surging higher, but this time, it is not just a few winners that are rising because they are taking market share, but high-end, low-end and in-between retailers are seeing rising revenues. Sometimes retail is a zero sum game, when certain stocks rise because they are snatching business from other retailers. However, Home Depot's (HD) management, which is usually forthright when it comes to taking market share, indicated that this time, it wasn't a matter of grabbing market share, but the consumer is out and spending. Suppliers have indicated that there is more demand for their goods, which would explain the across-the-board bullishness in retail.

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Source: Cramer's Mad Money - Do Not Trade These 3 Stocks (8/15/12)