Jim Cramer's Mad Money In-Depth Stock Picks 5/30

by: Miriam Metzinger

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Tuesday May 30. Click on a stock ticker for more analysis:

"Dead Generals": Cisco (NASDAQ:CSCO), Dell (NASDAQ:DELL), Microsoft (NASDAQ:MSFT), Intel (NASDAQ:INTL), Broadcom (BRCM), Marvell Technology (NASDAQ:MRVL), and Google (NASDAQ:GOOG)

"This is one of the worst days I've ever seen without a catalyst," Cramer said about the plunge of over 180 points on Tuesday. He said of the leaders of the previous market boom,"the generals are dead," and that investors, rather than running scared from a spastic market, should find new "generals." He suggests buying commodity and recession stocks, but adds that "they can't all go up at the same time. It's like a seesaw."

New Options: Clorox (NYSE:CLX), Enbridge (NYSE:ENB) and Netgear (NASDAQ:NTGR)

Cramer notes that even giants like Wal-Mart (NYSE:WMT) and General Motors (NYSE:GM) couldn't rescue the market from a plunge, and recommends commodities and stocks that perform well in a recession. He suggested Clorox (CLX) as one good investment.

Cramer prefers ENB, which has an upside price potential, to KMI, since KMI reported an 18% increase on Friday and is already old news. ENB has 43,000 miles of oil and gas pipeline in Canada, yields a 3% dividend, and Cramer predicts that it will reach $40 a share. "I think they are the best, most undervalued way to play Canada," he said.

Cramer touts Netgear as a best-of-breed stock which will benefit from the growth of wireless internet and internet phones. It also has a high cash position and has experienced market growth. "They are the Genghis Kahn of wireless routers," Cramer says.

CEO Interview: Transmeridian Exploration (TMY)

The Chief Executive of TMY, Lorrie Olivier, defended the location of the oil exploration and production business in the former soviet republic of Kazakhstan."Transmeridian is an undervalued company," said Olivier, "and the geopolitical situation in the world supports Kazakhstan's continued growth." He reported a potential supply of 200 million barrels, and predicts that his company will reach its production goal of 30,000 barrels a day within the next two years. However, Cramer suggested caution, and said that TMY is "Only for the most speculative of accounts."

Seeking Alpha publishes a summary of Jim Cramer's stock picks every day including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.