Shortly after Q1 ends, Jim Cramer likes to look at the top performing stocks in the S&P to determine which, if any, are likely to continue their moves higher.
And, after looking at the catalysts behind the top S&P stocks for the first quarter of 2014, Cramer thinks 2 of the big gainers are already out of the contest.
"The number one performer in the S&P for the first quarter was Forest Labs, but that's because Forest is being acquired by Actavis, which is an automatic disqualification," Cramer said. (In other words, it really can't go any higher .)
Also Cramer ruled out Keurig Green Mountain, the third best performing stock in the S&P, "because gains were largely due to Coca-Cola's 10% stake in the company back in February." (That is, the advance was do to an extraordinary and unexpected catalyst.)