July 6th - LEA STJ

Cramer looked at some value stocks tonight that are near their 52-week lows.

The first pick was LEA Lear Corp.

Closing Price: $21.45
After Hours High: $22.43
Percent Increase at High: 4.6%
Price Level Off Point: 22.35$
Percent Increase at Level Off Point: 4.2%
Trades on NYSE
Sector: Consumer Goods
Short %: 26.4%
Days to Cover: 10.0

LEA was down big today (5.1%) and has a pretty big short percentage already (but low and next to no insider and institutional holdings) . The stock is also trading below its high for today of $22.53 so this is an ANGO no-short situation. This pick, and possibly his next 2 feel a little like ZZ Sealy that Cramer picked again recently. The stock was also near its 52-week low and ever since Cramer mentioned it again it has held up pretty strong, including the next day. Either way, doesn't matter for this pick being a no-short situation, but just something to compare it with.

Cramer's second value pick was STJ St. Jude Medical Inc.

Closing Price: $32.07
After Hours High: $32.93
Percent Increase at High: 2.7%
Price Level Off Point: $32.60
Percent Increase at Level Off Point: 1.7%
Trades on NYSE
Sector: Healthcare
Short %: 0.85%
Days to Cover: 0.8

An NYSE stock so watch out for big volume spikes, but otherwise this looks to have some potential. Very small short percentage, decent volume after hours, and the typical after hours price action with a big spike and slow decline. This normally sets up pretty well for an opening bell spike and quick drop. Three things that make me hesitant though are the high average volume for the stock, the ZZ Sealy reference I made above, and the fact that Cramer gave a $10 up - $2 down prediction for the stock. Whether he is right or wrong, I think people really like hearing what the "exact" up side of the stock is. Since we came close to hitting $33 and didn't break it, I would watch to see if it breaks it early tomorrow. If it does break it, I would probably stay away and could see $33 holding. If it gets up to the high $32's early and doesn't break through it quickly then it could be ripe for a quick fall after the bell.

Cramer's final value pick was FO Fortune Brands Inc. The closing price of the stock today was $71.30. Goes to show that value stocks aren't always cheap. Being this expensive, even with a few up-tick trades after hours, its not worth shorting in my opinion since there probably won't be big volume due to the price.