Jim Cramer's Real Money Radio Recap 6/16

Recap of Jim Cramer's radio show on Friday June 16. Click on a stock ticker for more analysis:

Urban Outfitters (URB) - Although, 15 months ago, Cramer touted Urban Outfitters as the best in the industry, and he viewed the drop last summer as an opportunity to buy the stock, Cramer is now telling investors to get out of URB, because its slow sales are keeping it from clearing its inventory. Although the stock is at $18, he says that the fundamentals are so low that it would be a "sin" to pick it up.

Old News for Tech: Microsoft (MSFT), Apple Computer (AAPL), Intel (INTC) and Cisco (CSCO) Network Appliance (NTAP) and Palm (PALM) - Cramer feels that the media is out of touch when it comes to reporting on tech. The headlines state that Bill Gates' taking a lesser role in Microsoft is big news, when Cramer believes that the real story is that CEO Steve Ballmer has been running to show at MSFT for a while, and has made little progress, since the stock performance is lackluster, and the company is not introducing new products. Cramer prefers Apple, which is staying up-to-date. He also believes that the media hypes up old tech, such as Intel and Cisco, and should pay more attention to companies, such as NTAP and PALM, that produce new devices.

Short-Sellers and Caterpillar (CAT), Boeing (BA), and Bear Stearns (BS) - The role of Fed Chairman, Ben Bernanke, in causing the rally on Thursday was greatly exaggerated by the media, according to Cramer, who says that the rise was caused mainly by short-sellers and excellent performances by CAT, BA and BS. he points out that the rally began before Bernanke's statements were released, and that " ... at the top of the market yesterday, the short-sellers came in and bought back stock and that's what caused the rally." Cramer suggested investing in companies that are doing well, such as GlaxoSmithKline (GSK) or Pepsi (PEP), diversifying portfolios, and doing a bit of selling and reinvesting.

Bullish calls:

Caterpillar (CAT): This company lifted its entire sector on Thursday when it announced at a stockholder's meeting that it business was "smoking good." Cramer says it's not too late to pick up CAT, which is cheap and has increased its dividend.
Nabors (NBR): Cramer is bullish on this stock, despite its plunge. He faults the decline on the bankers who persuaded CEO,Gene Eisenberg, to borrow money to buy back stocks, and the value fell from $36 to $28. Cramer says now is the time to pick up NBR, which he believes is the world's best driller.
Barnes&Noble (BKS): Cramer prefers this stock to Amazon.com (AMZN), which is calls a "dog."
Boeing (BA): Cramer suggest buying BA instead of Titanium (TIE), which is too risky.
MasterCard (MA): Cramer gives MA "two thumbs way up."

Neutral/Bearish calls:

Best Buy (BBY): Although BBY reported a good quarter, some of it's New York stores were not doing so well. Cramer blames the sluggish performance on excess AU Optronics' (AU) inventory for which Corning (GLW) was to blame. Cramer likes this company, but does not recommend buying it now.
Bank of America (BAC): Cramer suggests to wait until BAC dips a little before picking it up.

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