Jim Cramer's Stop Trading! Cleveland Cliffhanger

Jim Cramer is liking his Cleveland-Cliffs (CLF Quote) call even more now with the stock in heavy takeover talk. Cramer discussed Cleveland-Cliffs on Stop Trading! on May 7, saying he liked the stock off the since-aborted deal between Alcan(AL Quote) and Alcoa(AA Quote). He said at the time that the stock is "finally working."

On Friday's show he said he was confident there'd be a deal soon, possibly within days. The stock was recently trading up nearly 7% to $75.66 in afternoon trading.

Cramer also discussed a report from UBS analyst Alexander Goldfarb that said apartment REITs could be the next attractive takeover area. The group has taken a hit on subprime fears, among other concerns. "We think it's unwarranted," he said. "The private market value remains firm. There's a lot of money out there looking for a home in property."

Some of the names here include Archstone-Smith (ASN Quote) Essex Property Trust (ESS Quote) and Colonial Property (CLP Quote).