Jim Cramer's Real Money Radio Recap 5/15

Recap of Jim Cramer's radio show on Monday, May 15 Click on a stock ticker for more analysis:

General comment: Decline in Commodities, but Oil is Still a Good Buy

After a stellar performance, commodities such as zinc, copper, gold and steel are on the decline. They had previously been performing well because of the intense
demand from BRIC countries, but Cramer says that commodities buyers are now tapping into their inventories. He suggests holding off buying commodities until the slide is complete.
However, Cramer identifies oil as the exception, and that crude oil has found a bottom. The heightened demand and the threatened supply also make oil stocks a viable purchase.

Watch Interest Rates

Cramer cites the increase in interest rates to 5% as the cause for the dramatic slide in the stock market. He suggests watching what the Fed is going to do, since the Central Bank is going to consider how much money manufacturers are paying for materials, consumer prices and the housing market. If these numbers are strong, there might be more tightening and the market might go down. If the numbers are soft, the market may see new highs.

Bullish calls:

*International Game Technology (IGT): The Mississippi River Boat casinos, devastated by Hurricane Katrina, are in the rebuilding process, and Cramer believes that gambling revenues will exceed pre-Katrina levels. IGT will be supplying the new casinos with slot machines.

*Level 3 Communications (LVLT) and Quest (Q): These phone companies have pulled back recently and are good buys.

*Amgen (AMGN), Blogen (BLLB) Celgene (CELG): Cramer is bullish on these three stocks.

*Oil Stocks: Cramer thinks that oil has found its bottom and is an excellent buy right now.


Neutral/Bearish calls:

*Ebay (EBAY): Cramer says he will be more interested in this stock when falls below $30. However, Ebay's business is slowing, and he does not recommend buying it until it is lower.

*Saks (SKS): Was once "dynamite play", but Saks has reached its peak. Cramer recommends caution about retail stocks in general, including Target (TGT), which suffered a 52 week low, and Walmart (WMT).

*Rackable (RACK): This stock was up 40%, but has only risen 11% on the year-to-date, and has fallen from $56 to $39. Cramer says it is not worth selling. Since Rackable makes high-density computer systems, it has great growth potential. Cramer suggests taking another look if Rackable falls below $38.

*Contextant (CNXT): Cramer says that since we are in "full sell mode", it is best to be careful about this stock.

*Advanced Micro Devices (AMD) Sony (SNE) and Broadwing (BWNG): These stocks are much too high to purchase now, and Cramer suggest buying Matsushita (MC) instead.


• Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.