Jim Cramer's Stop Trading! Adoring Allegheny

Jim Cramer "adores" Allegheny Technologies (ATI Quote - Cramer on ATI - Stock Picks), he said Monday on CNBC's "Stop Trading!" segment.

Cramer said the long rally in the Pittsburgh-based titanium supplier shows that "when things go good in corporate America, sometimes they go good beyond belief."

Cramer said Allegheny is the "ultimate ethanol play," since it makes the kinds of metals that aren't affected by the highly corrosive fuel. That means the company could stand to get big orders from oil companies recasting their refineries and pipelines, Cramer said.

But he said Allegheny is also going to be helped by Intel's (INTC Quote - Cramer on INTC - Stock Picks) plan to build a new line of chips using the element hafnium, since it's the largest supplier of the metal. He's bullish on the stock, which has jumped to a recent $103 from $20 over two years.

Cramer also likes Kroger (KR Quote - Cramer on KR - Stock Picks) and the other big grocery chains, saying they're doing a better job competing against Wal-Mart (WMT Quote - Cramer on WMT - Stock Picks). The "feast-on-Wal-Mart trade has been great for Safeway (SWY Quote - Cramer on SWY - Stock Picks)," Cramer said, and he believes it will be good for Kroger too.