Jim Cramer's Stop Trading! Short Circuited

Allegheny Tech could fall when it reports earnings, he says.
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A great run in

Allegheny Technologies

(ATI) - Get Report

could hit a speed bump when the company delivers quarterly results this week, Jim Cramer warned on

CNBC's

"Stop Trading!" segment Monday.

"Unless they have a cure for cancer, this stock is headed down when they report," Cramer said, noting the shares have more than doubled since he started recommending them, in part because of short-covering.

Short-covering is also responsible for part of the recent gain in

Travelzoo

(TZOO) - Get Report

, Cramer said. The company reported a good quarter last week. "Was it 30 points worth of a good quarter? No, it's the shorts atrophying," Cramer said.

Cramer recommended against

Intel

(INTC) - Get Report

, where he said there's "no reason to own the stock." He also wasn't enthusiastic about

Advanced Micro Devices

(AMD) - Get Report

, which could find itself in a price war.

Cramer said

Qualcomm

(QCOM) - Get Report

will eventually rise to $55 because it's "the guts for almost everything." At the moment, however, "the stock has no legs," and Cramer said recent price action in

Broadcom

(BRCM)

is "daunting."

Several big consumer stocks could be plays on a falling dollar, Cramer said, namely

Procter & Gamble

(PG) - Get Report

,

Altria

(MO) - Get Report

,

Colgate

(CL) - Get Report

and

Avon

(AVP) - Get Report

.

"Look at how much money Altria left on the table because of a high dollar," Cramer said. "These companies are all levered to the weaker dollar. Look out, the estimates could be too low."

At the time of publication, Cramer was long Altria, Procter & Gamble and Qualcomm.

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