Cramer Loves Ingersoll Rand!

The Cramer, on yesterday's Mad Money, announced that CAT, IR, BA, UTX, DE and FCX were all buys at current levels.

While Cramer is a genius to the infinite power, I still must mildly disagree on the buy point for IR. The stock is technically rockin' and rollin'. The fifty day moving average is trending up, MACD just crossed over and the stock annihilated double bottom resistance at $44. Still, the stock is extended. I will wait for a pullback before buying. Booyah!

The Best in the West is Texas!

Cramer broadcast Mad Money live from the University of Texas's McCombs School of Business, and used it as yet another opportunity to remind us that we need to own an oil driller. What driller should I pick, Mr. Cramer? Why of course, it's Transocean (RIG), the biggest and best driller out there.

We never leap before we look, and always do our homework before placing a trade. In our case, that means taking a look at the technicals. I like the fact that RIG crossed over the 50 day moving average and looks to have formed a short term double bottom featuring a higher low. I plan to take a small position tomorrow at current levels and buy more on a pullback to $75-76.