September 11th - SGP LLY WYE BMY MLHR

Cramer started out looking at Drug stocks and said that people should own at least one in their portfolio. He said the big institutions are dropping cyclical holdings and oil and switching into drug stocks. He said the institutions want to buy the drug stocks to give the appearance that they have owned them for the end of quarter results. He then said drug stocks don't trade based on their p/e ratios or growth rate, but rather their drug pipeline and their patents on these drugs that will shut out generic competition.

Schering-Plough Corp. (SGP) Closing Price: $20.62
Eli Lilly & Co. (LLY) Closing Price: $54.26
Wyeth (WYE) Closing Price: $48.80
Bristol-Myers Squibb Co. (BMY) Closing Price: $23.39

SGP has been mentioned several times in the past and has never received much after hours attention. These are all bigger volume stocks that Cramer has little influence on. SGP was up slightly with a high of $20.94 and most recently at $20.90 up only 28-cents. BMY hit a high of $23.68 and most recently at $23.50 up only 11-cents. Of note though, BMY had a big trade after hours (before Mad Money) of 28,600 shares at the closing price. None of these really jump out at me as great opportunities.

Cramer went on to explain why the institutions are getting out of oil by using Chevron Corp. (CVX) as an example. The stock is higher now then it was when oil was in the $70's. With oil around $65, CVX is still up $6, so it makes sense for it to come down. Cramer also said he could see oil under $60 a barrel to maybe $56.

Finally Cramer had an office furniture play and suggested Herman Miller Inc. (MLHR)

Closing Price: $28.54
Trades on NASDAQ
Sector: Consumer Goods
Short %: 5.9%
Days to Cover: 8.8
% Held By Insiders: 6.95%
% Held By Institutions: 78.30%

Either not a compelling story for people to buy the stock or it can't trade after 6:30. So this one will come down to opening bell price action tomorrow to see if there is a big spike or not. This is a lower volume stock with high institutional holdings so there could be some Cramer influence on it. If there were a spike early it could scare some of the shorts until they realize what may have happened which may prolong the strength.