May 22nd - MMR

Cramer continued his look at the stocks from the Dow Jones Industrial Average and looked at CAT, C, KO, DD, XOM, and GE. I'm not going to look at these for shorting since they aren't really picks. Cramer did put price predictions on the stocks, but again, we know Cramer is following an alphabetic order with the DOW stocks (by company name, not stock code) so there is no reason for these to be bid up insanely.

Next Cramer recommended McMoRan Exploration Co. (MMR)

Closing Price: $13.99
After Hours High: $ 15.20
Percent Increase at High: 8.65%
After Hours Most Recent Price: $ 15.04
Percent Increase at Most Recent Price: 7.51%
Sector: Basic Materials
Days to Cover: 14.5
Short %: 16.14 %
% Held by Insiders: 31.58 %
% Held by Institutions: 59.30 %
50 Day Moving Average: $13.63
200 Day Moving Average: $15.10

The stock is now well above the top band that was at $13.94. There are some other bullish signals for the stock as the MACD just crossed to the upside and the RSI was still below overbought levels. Since this is a commodity driven stock (Natural Gas) I don't like to short those since a strong day for the price of Natural Gas can propel the stock, even though the stock is up a lot after hours. The stock did have a big day yesterday as it held gains of over a dollar on the day, so its not out of the question the stock could stay strong tomorrow. The question is though...can it hold 2 strong days within a 3 day span? I would think a drop below $15 is a strong possibility (it may even go below that with the continued after hours tonight, so this is no big prediction on my part). The 200 day moving average is also at $15.10, so there should be some resistance at this level as people how have bought at higher levels may look to get out near even. And if you look at the chart above you can see that the stock has failed once already at trying to break the $15 level. I would look to cover quickly and set a tight stop loss in case there is a lot of short covering.

Finally Cramer recommended Mastercard Incorporated (MA) which had a closing price of $138.73, so it is too expensive here.