From silver to the Mexican peso, here's a rundown of top picks for May from experts on our monthly Trading Strategies roundtable:

Jim Cramer: I Like Alphabet
Cramer said he continues to like shares of Google parent Alphabet (GOOGL) . He acknowledged that "it is hard" for retail investors to buy a stock that costs more than $900 a share. "But one of the things we know is, it was hard to buy [costly] Berkshire in the '80s."

Stephen Guilfoyle: Buy Caterpillar on a Dip
Equities columnist Stephen Guilfoyle said he'd buy Caterpillar (CAT)  if it goes down to around $98 to $98.25 a share from today's $100 or so. He noted that the company had good earnings, but that the stock has "stalled," adding: "I would like a second swing at that pitch because I missed that pitch [the first time]."

David Yoe Williams: Silver Looks Golden
Commodities expert David Yoe Williams said gold has returned to levels "where we like it" -- but he said that silver might be even better. "Silver's gotten beaten up more so than gold, and I think if you're going to do something in the next week or two weeks, buy a little silver and enjoy that ride," Williams said.

Peter Tchir: Sell Junk Bonds and Buy MLPs Instead
Fixed-income columnist Peter Tchir suggested those still holding high-yield bonds should sell them and take a portion of the profits to buy master limited partnerships instead. "So, de-risk out of your high yields, but put some of it back into the MLP space -- which I think will benefit from all these trends we've talked about," Tchir said. Cramer pointed out that investors can use ETFs to make those plays, and Tchir agreed, saying the funds "act as very good beta products."

Douglas Borthwick: Take a Short-Term Position in the Mexican Peso
Forex-trading expert Douglas Borthwick said there's a short-term play in the dollar-peso trade as negotiations over the North American Free Trade Agreement heat up. He said recent comments by U.S. Commerce Secretary Wilbur Ross have been important, but overwhelmed by other news. "I think the United States is pursuing a weaker dollar vs. the Mexican peso," as the Trump administration pressures Mexico over its adherence to NAFTA. "The United States will up their negotiations over NAFTA and we'll see a nice move lower in Dollar-Mex."

Trading Strategies: Sell in May and Go Away?:

Editors' pick: Originally published May 12.

At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, was long GOOGL.

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