May 19 - TLAB GGC

Cramer's second segment feature 5 stocks: FCX, HAL, JPM, TLAB, and BA. Of these 5, TLAB Tellabs Inc. is the one with the most appeal due to its price (the only one below $40).

Closing Price: $14.02
After Hours High: $14.47
Percent Increase at High: 3.1%
Price Level Off Point: $14.44
Percent Increase at Level Off Point: 3.0%
Trades on NASDAQ
Sector: Tech - Communication Equipment
Short Interest: 2.53%
Days to Cover: 1.8

Not a great increase in price after hours. I don't normally look at "basket of stocks" plays because it doesn't allow people to focus on a stock and bid it up, but TLAB might be worth a look. I've been meaning to look at Friday picks to see what they do come Monday morning, but haven't had a chance. What I noticed recently though was that they tend to drop early in the pre-market. I assume this might be due to people forgetting about it over the weekend. I would look for another 9:30am peak and drop if it holds up around the $14.40 level or above.

Cramer's next pick was GGC Georgia Gulf Corp.

Closing Price: $30.10
After Hours Price: $31.34
Percent Increase: 4.1%
Trades on NYSE
Sector: Basic Materials
Short Interest: 7.95%
Days to Cover: 4.8

GGC was up 7.4% today before Cramer mentioned it on 3x normal volume so the cat seems out of the bag on this one. I assume Cramer has done enough homework on this one and I have done none, but what if GGC has hedged their Natural Gas purchases at higher prices then what it goes for currently? Would that not negate the ability to increase margins? Anyway, the basic Materials sector has been a good one for shorting with a 5.8% drop from highs on average from my data. This one is climbing a lot after hours, so given that short percentage and days to cover this looks to be causing some pain to existing shorts. I could see the peak going past 9:30am on this one as there might be some covering early and often. This is sure to come down at some point since it is up 11% in one day, but it might be a hard one to time.