August 17th - CEO Stepdowns, HSY AIG

Cramer took a look at 5 companies where if their CEO's leave the stocks could climb.
The stocks were:

MMC Marsh & Mclennan Companies Inc. To $32 if the CEO steps down.
AVP Avon Products Inc.
BOL Bausch & Lomb Inc.
HD Home Depot Inc.
BMY Bristol-Myers Squibb Co.

Cramer actually recommended buying Call Options on these as a way to play the possibility of the CEO's leaving these companies. It seems this approach from Cramer has made people not jump right out and buy these picks after hours. Basically, Cramer is saying these companies aren't that great in their current state, so people must realize that and will wait to buy some Calls tomorrow or wait till they hear actual news of CEO's stepping down. MMC and AVP both traded down slightly after hours on small volume and BMY traded up $0.27 to trade at $21.75.

Cramer then looked at playing the right stocks for this market, which is not the big exciting stocks yet, it is still defensive plays. Cramer recommended HSY Hershey Co. Cramer said it was only trading 3 points above its low, which is incorrect. The 52-week low is $48.20 and the stock is currently trading at $53.03. No immediate trades after hours until Cramer put a target of $2 down and up $15. The stock traded to $53.70 on light volume. The stock is too expensive to get much Cramer Effect in my opinion.

Finally Cramer looked at the Insurance Industry and 3 stocks to see which was the undervalued buy pick:
MMC Marsh & Mclennan Companies Inc.
AIG American International Group Inc.
AOC Aon Corp.

MMC was from the first segment, and Cramer said the stock would go up if the CEO left. He also said AOC which was hit by Elliot Spitzer did rebound, but then fell back down. This of course leaves AIG as the stock Cramer says to buy. The stock closed at $63.58 and has gone up to $64.30 after hours on light volume. Again, too expensive in my opinion to short off the Cramer recommendation.