July 20th - Bank Stocks (MTU)

Cramer broke his business cycle rule about selling bank stocks when the interest rate is high but didn't come out and recommend any particular stock! His reasons for breaking the rule is that banks are buying back their stock, bankruptcy laws have changed, they are trading at low p/e ratios compared to the market, and after 17 rate increases banks had the fewest loan losses and mortgage problems in years. Is this possibly a new strategy? Teach and entertain about investing but hold off on actual stock names so he won't be held accountable? The more likely answer is that he has beat to death his defensive stocks on Mad Money and his Radio Show and can't really offer anything new right now in the current market. The closest thing to a "pick" was MTU Mitsubishi UFJ Financial Group, Inc. as a caller asked Cramer about it and Cramer said it was a buy, and a stock he just picked up for his Charitable Trust.

MTU
Closing Price: $13.13
After Hours High: $13.30
Percent Increase at High: 1.3%
After Hours Level Off Point: $13.25
Percent Increase at Level Off Point: 0.91%
Trades on NYSE
Sector: Financial
Short %: 0.02%
Days to Cover: 0.9

I've never looked at this type of "picks" in the past since it wasn't what was highlighted in the segment. The price is right for shorting, but there isn't much action after hours. Virtually no short holders now and the stock was down today. We are trading under the high for today of $13.41 so this is an ANGO no-short situation.

Cramer's next segment was about bad stock tips. He looked at a tip that would mean good thinks for AMLN Amylin Pharmaceuticals Inc., but on further investigation the tip was not relevant. He does like the stock, but on the short term he isn't high on it. With no trades after hours, it being a pricey stock, it not really being a true "buy buy buy" pick, and they are reporting on Monday I don't see any Cramer Effect potential here.

Finally Cramer mentioned a bad analyst downgrade on that was made a day before the company reported earnings. The stock was VFC VF Corp. The analyst was looking at the overall (macro) market indicators as a reason for downgrading the stock instead of having any company specific reason. Of course the company came out and beat estimates and short sellers and put buyers all lost out. Having said all that, the stock trades at $67.57 and I don't see as a Cramer Effect short opportunity since this was more of an educational segment rather then a pick.