Jim Cramer has a good history of recommending stocks that are well overbought and he’s adding another one.  Last night on his Mad Money show he recommended a few smart grid plays – Itron (ITRI), Cooper Industries (CBE) and Telvent (TLVT).  I have long highlighted ITRI as the best and safest way to play the smart grid long term and it remains in a firm up trend.  CBE is an interesting pick and one that hasn’t been on my radar, so I’ll have to take a closer look at it and possibly include it in the tracking system.  Telvent (TLVT) is a great company with a long history of strong growth, 2008 included.  However, recommending it up here is irresponsible in my opinion.  It’s up 600% off the March lows and showing signs of tiring right along with the overall market.  If it’s me, I’m waiting for a pull back to what is now new support around the 30 level. 

Again, the mainstream media continues to ignore the ELON, ENOC and COMV plays in the smart grid space as Cramer does in this piece.

Here are some highlights of Cramer’s comments regarding the smart grid plays and the video below.

– called TLVT a great speculative smart grid play and a one stop shop for everything that’s the future.
– TLVT has exposure with smart meters, same biz as ITRI
– tied with GE for the #2 spot for SCADA exposure (systems that monitor and control power for greater efficiency); Cramer estimates this biz is worth $1.7 billion to TLVT
– says 20% of TLVT biz is smart grid related but the % should increase substantially.

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Good article, great companies, bad entry points.  Be patient right now.. better entry points will come.