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Cramer's 'Mad Money' Recap: Breaking Up Not Hard to Do

Banco Santander (SAN): "I still think the stock is a sell, sell, sell."

Southern Company (SO): "That's a buy, buy, buy. I'll throw in American Electric Power (AEP), Dominion Resources (D), Consolidated Edison (ED) and Duke Energy (DUK)."

KLA-Tencor (KLAC): "Everyone has given up on it but I think that's a mistake. Next year will be good."

Rock-Tenn (RKT): "No, no. International Paper (IP) is the superior stock."

Spirit AeroSystems (SPR): "Why own Spirit when I can own Boeing (BA)?"

Chimera Investment (CIM): "I don't trust the stock. "

Thompson Creek Metal (TC): "Keep looking, don't pull the trigger. "

Off The Charts

In the "Off The Charts" segment, Cramer went head to head with colleague Tim Collins over the fate of natural gas, the commodity that never seems to stop heading lower.

According to Collins, after trading below $2 in late-April, natural gas was finally able to hold a higher low and make a bullish "W" formation. That, he said, is a good sign and if the commodity can surge above its ceiling of resistance at $2.75 we'd be off to the races. Collins used both the TRIX momentum indicator and the RSI, relative strength indicator, to confirm his thesis.

So how to play the move? According to Collins, Ultra Petroleum (UPL) is the natural gas company with the best chart. Using a daily chart of Ultra, Collins was also able to see bullish signs in both the TRIX and RSI as well as a "cup and handle" pattern, a very bullish sign. Collins theorized that if Ultra could break above $21.50, the stock could see $25 a share by the end of August or sooner.

Cramer said many have predicted a bottom in natural gas, but he's inclined to believe Collins now that gas companies have finally cut back on supply and the U.S. is seeing increased demand for natural gas. Ultra, he said, is the best-run gas company out there.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer opined on the increasing takeover chatter in the banking sector. He said there was once a time when bank mergers and acquisitions were a staple. Whether it was a bank with regional to national ambitions or a bank trying to fend off its competition or take advantage of an FDIC fire-sale, takeovers were everywhere.

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