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IBDvalueinvestin (98.36)

Cramer says avoid OIL stocks.



June 16, 2010 – Comments (8)

Sorry Cramer fans but I will not be following that advice, not when Oil stocks are trading nearly as  low as they were during the 2008 recession.

Cramer: Avoid Oil Stocks at 2:51PM EDT)
Obama: BP agrees to $20B fund for spill victims AP(Wed 2:50PM EDT)

8 Comments – Post Your Own

#1) On June 16, 2010 at 3:26 PM, GNUBEE (< 20) wrote:

That's a good "buy" indicator for me!

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#2) On June 16, 2010 at 3:30 PM, alberta911 (< 20) wrote:

tomorrow is triple witching day

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#3) On June 16, 2010 at 4:13 PM, chk999 (99.96) wrote:

Cramer is a decent contrarian indicator all on his own.

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#4) On June 16, 2010 at 4:39 PM, miteycasey (29.00) wrote: high, sell low.

Oil isn't going away. We are still going to use the same amount tomorrow as we did 6 weeks ago.

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#5) On June 16, 2010 at 4:42 PM, simplemts (< 20) wrote:

But if the market goes down for 3 days are you going to sell everything again?

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#6) On June 16, 2010 at 5:10 PM, zCreator (94.04) wrote:

Cramer is so damn accurate... in the wrong direction that is. It's actually pretty amazing. For people that don't know him check him out on Wikipedia. He pretty much uses the masses to obtain shares or short sell.

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#7) On June 16, 2010 at 11:31 PM, ralphmachio (< 20) wrote:

I usually disagree with Cramer too, in that he is a shameless permabull. When he recommends staying away from something, there may actually be something to it! 

I'm short an oil company! Cramer's my boy! I saw Doug Kass, who was one of the people who called the rally, almost to the day, is also mostly short, according to his stocktwits post.  

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#8) On June 17, 2010 at 2:34 AM, ozzfan1317 (69.17) wrote:

So nows the time to back up the truck on cheap oil stocks? For the next ten years oil use isnt changing much maybe after that a bridge to alternatives with nat Gas but for the next 5-10 years oil is a pretty sure bet.

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