(SAN): "I still think the stock is a sell, sell, sell."
(SO): "That's a buy, buy, buy. I'll throw in
American Electric Power
(KLAC): "Everyone has given up on it but I think that's a mistake. Next year will be good."
(RKT): "No, no.
(IP) is the superior stock."
: "Why own Spirit when I can own
: "I don't trust the stock. "
Thompson Creek Metal
: "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,
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.