Five Ways to Game the Tech-Oil Silliness

Oil down, tech up? Remember, that's the ridiculous pattern that this market embraces. So without further ado, here are some ideas to take advantage of the market's oil futures bias.

First, I think that Intel's (INTC - commentary - Cramer's Take) having a pretty good quarter in part because of the floundering of competitor AMD (AMD - commentary - Cramer's Take). The stock's plummeted from $25 to $20, in part because of the antitrust suit, which I think is going nowhere. A strong quarter could justify a 10% move.

Second, Apple's (AAPL - commentary - Cramer's Take) iPhone is quickly becoming the standard. I believe if AT&T (T - commentary - Cramer's Take) were to develop better coverage -- you hear consistent complaints about it, or at least much more consistent then Verizon (VZ - commentary - Cramer's Take) -- I believe it would already be showing up as a destroyer of even once-vaunted Nokia (NOK - commentary - Cramer's Take).

Third, the additional spend for Research In Motion (RIMM - commentary - Cramer's Take) is now largely in the stock. Does anyone remember that the number of signups that the company had were huge? This one's been punished enough.

Fourth, Google (GOOG - commentary - Cramer's Take) hasn't had a glove laid on it, and all I hear about is faster growth overseas and in YouTube. To me that's grounds for buying. The total disarray of Yahoo! (YHOO - commentary - Cramer's Take) isn't lost on advertisers, even if the eyeballs keep coming.

Fifth, I believe both Dell (DELL - commentary - Cramer's Take) and Hewlett-Packard (HPQ - commentary - Cramer's Take) are doing well, as contrary as it seems. The increases here could wake people up and make them feel that perhaps tech is overly punished vs. so many other sectors given the shrinking multiples around the block.

Remember, I do not believe this trade makes sense in a rigorous fashion, no more than I believe that the dollar controls oil given the dollar's stability since April but the phenomenal run in oil since then.

But it's what people will do, so why not embrace it?

At the time of publication, Cramer had no positions in the stocks mentioned.

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