Jim Cramer's Radio Show Stock Picks 5/15

Recap of Jim Cramer’s Radio show, Monday, May 15. Click on a stock ticker for more analysis:

General comment: Commodities Buyers Have "Had Enough", but Oil is Still a Good Buy.

The sudden rise of commodities, such as zinc, copper, gold, and steel was due largely to the demand from BRIC countries, however, according to Cramer, commodities are "losing steam" because commodities buyers have stopped purchasing and are tapping into their inventories. He predicts that the slide is not yet finished, and recommends against buying commodities until they have reached bottom. Oil, however, is the exception, and Cramer believes that crude oil has indeed found its bottom, and is a good buy, especially since demand for oil is high and the supply is under threat.

Anxiety Over Interest Rates

Cramer cites the interest rate hike to 5% as the cause of the dramatic stock slide, and suggests paying attention to what the Fed will do to interest rates. The Central bank will take a look at the amount manufacturers pay for materials, the price of consumer goods, and the housing market. If these numbers are solid, they will tighten up, and the market will decline. However, if the numbers are soft, there is a potential for new highs. Cramer suggest that, if the Fed raises rates, it is a good idea to stay in cash.

Bullish calls:

* International Game Technology (IGT): Since Katrina wiped out the Mississippi River Boat Casinos, there is a massive rebuilding project underway, and gambling revenue will be expected to exceed pre-Katrina levels. IGT will supply slot machines and other games to these casinos.

* Matsushita (MC)

*Level 3 Communications (LVLT)

*Quest (Q)

*Amgen (AMGN)

*Blogen (BLLB)

*Celgene (CELG)

Neutral/Bearish calls:

* Saks (SKS): Cramer says that Saks used to be "dynamite play", but it has already put in its best performance. He stresses caution about most retail stocks.

*Target (TGT): This company had fair numbers, but got hammered to 52.

*Rackable (RACK): This stock was up 40%, but was up only 11% on the year to date, and had fallen $56 to $39. He likes the fact that the company produces computer servers, and he does not recommend selling this stock.

* Advanced Micro Devices (AMD): This stock enjoyed a big bounce and is up 100%. Cramer says it is much too high to buy.

*Broadwing (BWNG): At a 200% high, Cramer says it is not worth buying now.

*WalMart (WMT)

*Conexant (CNXT)

*Sony (SNE)