Get Ready for a Return of the Drillers

Time to abandon oil. That's what everyone's saying. You can hear it. Abandon oil, abandon drilling.

Like something has happened to make things better.

I am now hearing, for example, that day rates are falling for oil drillers. So I check around. The best place to see day rates is the Ensco (ESV - commentary - Cramer's Take) Web site. Funny thing, they are going higher, not lower. This is up-to-the-minute stuff. That tells you that 2007 is a built-in win for stocks like ESV and Nabors (NBR - commentary - Cramer's Take).

As always, the facts mean nothing in a market where all people want are General Mills (GIS - commentary - Cramer's Take) and Kellogg (K - commentary - Cramer's Take). I accede to that.

But I am planning for the day when people realize the Fed is done and stocks away from what Walgreen's and Safeway sell begin to get a multiple again because inflation is tamed.

Then people will come back, not before then.

I just know that, for me, as someone who is trying to think six months out -- how quaint -- it is next to impossible to have the discipline to stay the course. Everyone thinks they can switch on a dime back to these stocks.

But the lesson of May 11, when the fulcrum occurred and the end-of-the-cyclicals/beginning-of-the soaps-and-soups rally took place, is that most couldn't move fast enough.

The same thing will happen again. Believe me. Except this time the other way around.

We still have three months where Altria (MO - commentary - Cramer's Take) goes to $85, Procter & Gamble (PG - commentary - Cramer's Take) to $65, and Pepsi (PEP - commentary - Cramer's Take) to as high as $70. Certainly all worth capturing.

But remember, there's a switch coming, and keep in mind those day rates because they will matter again. Soon.

At the time of publication, Cramer was long Altria and Nabors.

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Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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