Cramer's Stop Trading! The One Oil Stock That Hasn't Rallied Yet (6/10/09)

Stocks discussed on Jim Cramer's Stop Trading TV Program, Wednesday June 10.

Petroleo Brasileiro (PBR), Frontline (FRO), DryShips (DRYS), Diana Shipping (DSX), Exelon (EXC), NRG Energy (NRG), Dominion Resources (D)

It’s not too late to invest in oil; Petroleo Brasileiro is the only oil stock that hasn’t rallied yet, and Cramer thinks it is cheap on an asset basis. The rally in oil is good for oil tanker stocks, such as Frontline.

Iron prices are declining, which is good news for Dry Bulk shippers Diana and DryShips.

Cramer praised Exelon for its proposed takeover of NRG. His favorite in the space is still Dominion.

Cramer cautioned viewers about the dramatic rise in commodity prices and attributed it to manipulation by money managers. He is not worried about rising mortgage rates, because he thinks those who want to buy homes could jump into the market because they want to catch a bottom in mortgage rates.

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Comments

[Chris H.:]

$15 to $45 isn't a rally?!?

Jun 11 05:40 PM

[nerho:]

Stupid!!!!!!!

Jun 12 05:43 AM

[Maxe Paul:]

"Cramer cautioned viewers about the dramatic rise in commodity prices and attributed it to manipulation by money managers",

But Cramer says BUY BUY BUY and BUY some more anyway!

Jun 12 09:20 AM

[bindlepete:]

The outstanding debt is not really being addressed so this economic downturn has a long way to slide.

The job market will continue to fall well through next year and thus increase the collapse of bundled credit card debt, mortgages and of course the Alternate A's and student loan defaults will continue to rise if not spike.

Inflation? with medical costs, tuitions and food and rental rates on the inevitable rise it will be a factor that the Fed will be afraid to address in any real sense.

Return to 2004? - forget it. We will have to adopt a new metric for success. Meanwhile the Government has raped and denuded "ol Aunt Mini to fatten the Wall Street flim flammers who are too important and generous in contributions to fail.

We need a revolution in metrics and governing.

Jun 13 10:07 AM