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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Monday October 15.

Bullish Calls:

Kinder Morgan Partners (NYSE:KMP): "I want to go with one (an MLP) that is tried and true ... Kinder Morgan Partners."

Apple (NASDAQ:AAPL): "The best way to play Apple is Apple. I know it bounced off the $624 line. I want to be in it. I want to invest in Apple, not trade it."

Schlumberger (NYSE:SLB): "This is the safest one to be in (in the sector)."

Bearish Calls:

AT&T (NYSE:T): "You should hold it. Sprint is teaming up with Softbank and T-Mobile teamed up with MetroPCS. You have to realize that AT&T is not going to be a rocket ship anymore. Let it come in to $34 or $33."

Skyworks Solutions (NASDAQ:SWKS): "It's good, but semiconductor stocks are really killing me."

Liquidity Services (NASDAQ:LQDT): "I'm going to be honest. There is something going on with this stock. It is a wild trader and there are a lot of research notes. I can't opine on it. I'm going to back away from LQDT."

Eagle Rock Energy Partners (NASDAQ:EROC): "I know it is tempting because of the dividend, but I prefer a stock that is tried and true (Kinder Morgan Partners) ... I don't want to own that one. I don't care about an unknown stock with yield."

Annaly Capital Management (NYSE:NLY): "These are in the crosshairs of the mortgage buying that Ben Bernanke is doing ... everybody's dividend in that group is in danger of being cut. If you can live with that, then you are okay."

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Source: Cramer's Lightning Round - AT&T Is Not Going To Be A Rocket Ship Anymore (10/15/12)