Over the last 6 months since Mr. Cramer unveiled his mobile internet index, the Dow Jones Industrial average has gained 1,000 points or 11%. The technology-focused Nasdaq index is up 12% in the same time frame. So how has the Mobile Internet Index performed?

Unfortunately, the last 6 months has to be considered a mild disappointment for the mobile internet index. The index as a whole is up 9.6% during that time, but has underperformed the 12% gain in the Nasdaq.

The Mobile Internet indexes performance has been weighed down by a couple of extremely poor performances. The worst performer in the index, Palm (PALM: 0.00 N/A), has lost over half its value in the last 6 months. Tessera Technologies (TSRA: 15.91 -0.50%) stock has fallen over 30%.

While the overall index performance has been disappointing, there have been some stellar individual stock performances. Sandisk (SNDK: 37.95 +1.17%) is up an amazing 65% over the last six months. Starent Networks (STAR: 0.00 N/A) shares have soared over 56% since last August. In fact, 14 out of the 21 stocks have posted 6 months gains with 12 of those 14 stocks delivering double digit gains.

The big names of the index, like Apple (AAPL: 263.07 +0.06%), Google (GOOG: 476.18 +1.19%) and Cisco Systems (CSCO: 20.61 -0.15%) have also outperformed the broader market indexes with Apple leading the way with a 21% gain.

Here is a review of the performance of Jim Cramer’s stock picks from Friday’s Mad Money show.

Hain Celestial (HAIN: 24.40 0.00%)
The Hain Celestial Group saw their stock jump 6.6% on Monday after Jim Cramer suggested that Kraft Foods forget their pursuit of Cadbury and take a look at Hain as a potential takeover target. Cramer is bullish on the trending popularity of healthy food choices. Hain Celestial products clearly fall in this sweet spot, with many of their products sold in popular stores like Whole Foods and Walmart. Meanwhile, Cadbury products will continue to be flagged as unhealthy options. Regardless, Cramer believes that Hain will likely be acquired either by Kraft or by some other suitor. When that happens, Cramer believes the stock will see an 85% takeover premium.

Tekelec (TKLC: 11.10 +0.63%)
Shares of Tekelec surged 6.1% after Cramer focused the spotlight on the telecom stock. Mr. Cramer has been the leading cheerleader for mobile internet companies and even created his own Mobile Internet Stock index in early August. Since that time the index has climbed over 13%, but investors seemed to have overlooked Tekelec. However, Cramer believes that investors are overlooking a great opportunity as TKLC trades at only 12 times earnings. Cramer believes the stock could gain another 68% and recommends investors consider this speculative stock.

Cramer’s Lightning Round stock picks:

Ebay (EBAY: 24.30 -1.10%) fell 0.7% – Cramer is bullish on the stock and expects it to go to $30.
Trinity Industries (TRN: 18.70 -1.22%) dropped 6.4% – Despite the poor performance last year, Cramer likes Trinity.
Caterpillar (CAT: 70.64 -0.14%) fell 1.8% – Cramer still recommends owning CAT.
Manitowoc (MTW: 10.09 -0.59%) dropped 2.2% – Cramer clearly dislikes the stock.

Here is a review of the performance of Jim Cramer’s stock picks from Tuesday’s Mad Money show.

BJ’s Wholesale Club (BJ: 41.19 -1.20%)
In part 2 of the weeklong look at the next “discount king”, Jim Cramer focused on Costco (COST: 58.94 -0.46%) and BJ’s Wholesale Club. Cramer likes their membership model which also encourages customers to continue regular shopping habits. However, Cramer prefers BJ’s because the company is currently increasing their same store sales, while Costco has been flat or even slightly declining. Cramer also likes the fact that BJ’s offers nearly twice as many products as Costco, but has only one third as many stores as Costco. This presents the company with tremendous growth opportunities which BJ’s management intends to capitalize on. Finally, BJ’s currently trades at a discount to Costco’s valuation, but Cramer believes that will soon change. BJ’s stock was up 1.4% on the recommendation, while Costco gained 1.2%

Vale (VALE: 27.61 +0.66%)
Shares of the mining company dropped 0.7% despite a moderate recommendation from Jim Cramer yesterday. Morgan Stanley and HSBC recently put out conflicting reports with one upgrading and the other downgrading VALE’s stock. Cramer sided on the side of the upgrade due to rising iron ore and nickel ore prices and continued demand outside of China.

Cramer’s Lightning Round stock picks:

Medivation (MDVN: 11.60 +11.54%) dropped 0.7% – Cramer recommends the stock only as a speculative play.

Babcock and Brown Air Limited (FLY: 11.58 +2.93%) rose 4.2% – Cramer was bearish on this stock because he doesn’t like the aircraft leasing business and has been burned before.

Union Pacific (UNP: 78.66 -0.44%) dropped 1.0% – “Union Pacific is a great company that I think, at any pullback you pull the trigger. There is a lot more room to run.”

Seaspan (SSW: 11.35 +1.07%) fell 0.3% – Cramer feels that the stock is doomed.

Alcoa (AA: 11.23 +1.45%) dropped 0.7% – “I think Alcoa is dead money.”

Boise (BZ: 7.19 +0.70%) fell 2.8% – “I think we missed that stock already.”

Hexcel (HXL: 17.52 -1.57%) declined 0.4% – “I don’t want to be in Hexcel.”

First Niagara Financial Group (FNFG: 11.44 +0.53%) rose 0.4% – “I think First Niagara might be best in show. It’s got a dividend.”

Weyerhaeuser (WY: 16.18 +1.19%) jumped 0.9% – Cramer is bullish on the stock and believes it is cheap.