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

 |  Includes: D, DSX, NRG, PBR
by: Miriam Metzinger

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

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