TheStreet.com TV Recap: Coming Clean on Exchange Stocks

Be sure you're owning NYSE Euronext (NYX Quote) for the right reasons, Jim Cramer said on TheStreet.com TV's Wall St. Confidential Web video Tuesday.

Goldman Sachs "hates" the stock, downgrading it Monday because Goldman is predisposed to view the NYSE as an American company.

And if the NYSE were an American company, Cramer said he would be shorting it instead of owning it for his charitable trust, Action Alerts PLUS.

"The only reason why I like this company is because of Euronext," he said. "Euronext has the ability to be able to get into derivatives and futures."

If people are in NYSE for "the Goldman reason," they should sell it, Cramer advised. The Goldman analyst was so motivated to get people out of NYSE "that it freaked people out," he said.

Meanwhile, Citigroup was motivated to move up NYSE with "a very good report" -- the analyst there was looking at the global picture.

The Nasdaq (NDAQ Quote) hasn't been able to take global advantage, "so why should I like [the Nasdaq] given the fact that I want to be more geared toward the European market than the U.S. market?" Cramer said. "Europe's a much more robust place."

Further, he called Chicago Mercantile (CME Quote) a good stock. "The hedge funds love to short these stocks and the mutual funds love to own them," Cramer said of CME. "That dynamic is always going to drive a stock higher."