Cramer's 'Mad Money' Follow-Up: Cleveland Cliffs

Stock quotes in this article: KFT , GIS , CLF , PEP , JNJ , LLY , TAP  

During his Tuesday "Mad Money" show, Jim Cramer said that the market has been going up because of stocks in the oil, technology and banking sectors, and that those stocks have been fueled by money leaving other sectors, including food and drug sectors.

So Cramer was worried about recent strength in stocks that should be heading lower, such as Kraft(KFT Quote), General Mills(GIS Quote) and Pepsi(PEP Quote). He owns General Mills and Pepsi for his Action Alerts PLUS charitable trust.

Other stocks that should be heading lower but aren't include Molson Coors(TAP Quote), Eli Lilly(LLY Quote) and Johnson & Johnson(JNJ Quote), Cramer said.

He said that for oil, tech and banking rally to continue, these stocks need to go lower.

On Wednesday, Kraft closed down 22 cents at $25. General Mills lost 30 cents to $51.86, and Pepsi gave up a penny to close at $49.72. Molson Coors was down 15 cents to $42.02, while Eli Lilly gave up 11 cents to $34.43, and Johnson & Johnson lost 15 cents to close at $54.21.

Cramer called Cleveland Cliffs(CLF Quote) a buy based on the improving commodities market and its low stock price.

Cleveland Cliffs added $2.82, or 10.3%, to close at $30.29 on Monday.

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At the time of publication, Cramer was long General Mills and Pepsi.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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