October 10th - Market Shift CAB

Cramer started out by saying that people should change their position in the market and to get out of the recession stocks and its time to get into the cyclical. Cramer said to get into retail, financial and technology (besides semi-conductors) and recommended the following:

American International Group Inc. (AIG)
Ingersoll-Rand Co. Ltd. (IR)
Capital One Financial Corp. (COF)
Black & Decker Corp. (BDK)
Cisco Systems, Inc. (CSCO)
Oracle Corp. (ORCL)
Hewlett-Packard Co. (HPQ)
Continental Airlines Inc. (CAL)
Lennar Corp. (LEN)

These do not represent shorting opportunities in my opinion since they are all big well known companies, not to mention most are rather expensive.

Next Cramer looked at how to spot a turnaround in a company and said the best way is to find a stock that is hated and said Cabela's Inc. (CAB) is a good example.

Closing Price: $23.45
After Hours High: $24.07
Percent Increase at High: 2.6%
Price Level Off Point: $24.00
Percent Increase at Level Off Point: 2.3%
Trades on NYSE
Sector: Services
Short %: 11.81%
Days to Cover: 32.3
% Held By Insiders: 38.45%
% Held By Institutions: 39.70%

A low volume stock (slightly above 200,000 a day) which explains the high days to cover the current short position. It also hit a new 52-week high today BEFORE Cramer recommended it and has decent insider and institutional holders. I'm not really liking this for a short due to the above factors and that fact that the price quickly went through the $24 level so there is no psychological number to create a possible ceiling for tomorrow.