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Wednesday, October 04, 2006

Cramer

What does Jim Cramer think about oil stocks?

It's hard to say. . .

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1/6/06 - Exxon Mobil (XOM): Here's a company that gets so many undeserved accolades that it makes me sick. It hasn't grown its assets -- crude in the ground, my friends -- for years and has played the role of oil bank all too well. I believe it deserves a lower multiple than almost any oil company
.

8/2/06- Cramer says that the Merrill Lynch analyst who downgraded HAL was wrong, and believes that natural gas will be going up. He suggests buying VLO, because he believes that it is on its way up.

8/3/06 - Bullish calls: XOM and COP. Cramer says that COP is the best company in the sector.

8/7/06 - Cramer says that oil is not going back down soon, and that no one seems to be using alternative fuels yet. Cramer likes BHI and CVX.

8/8/06 - Cramer says that ALJ and VLO are good buys to get revenge at the pump. In spite of the fact that many analysts claim that oil will go down, Cramer does not see it happening. "Own an oil stock," he says.

8/10/06 - Bullish calls: VLO and DVN. DVN, 'I regard that as the cheapest energy play in America. BuyBuyBuy!' Also on 8/10, Cramer decries the fall of oil on Thursday as "stupid and wrong" and suggests buying XOM on weakness.

8/15/06 - Bullish calls: BP and XOM.

8/17/06 - ' ...move into Valero.' Consol Energy (CNX):'The prospects are fabulous. ... I say 'mon back.'

8/21/06 - People thought oil was coming down, but it's not.

9/5/06 - A major discovery of oil in the Gulf of Mexico not only means big gains for CVX and DVN, but will bring the entire market up, according to Cramer

9/20/06 - Oil's up. Sell oil. It really is that bad. Now that we are in the home stretch of the quarter, every portfolio manager and his brother wants to sell oil and buy tech -- any oil, any tech.

9/21/06 - Tomorrow sell the oils, with abandon. Today, let them glow.

9/21/06 - Since oil is falling, Cramer is taking a look at CVX which was up 2% on Thursday but warns that Friday is the day to sell since the tide is turning against crude oil.

9/26/06 - Although there are some who believe that the "exquisite moment" to pick up oil again is near Cramer insists that the bottom will not occur in oil until it reaches $56 a barrel. Cramer said that OXY was a '"proxy" and that it "should be somewhere between $35 and here ($46.21). He doesn't recommend the sector.

9/27/06 - This morning, a couple of firms upgraded the refiners, which should begin to put a bottom in the oils themselves.

9/27/06 - Cramer notes the performance of CVX which is up 5% as oil continues to decline and will probably fall below $60.

9/29/06 - "The only oils that I want to own right here are CVX and BP"

10/3/06 - Jim said he would pick up Devon and sell BP.

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Hopefully you were able to make "mad money" following his recommendations :)

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