With oil running, I urge you to consider the infrastructure plays. You can see them turning. But you must know that when oil and gas trade up -- particularly the latter -- it means there is going to be lots of infra spending that people thought would be canceled just two weeks ago.
Of course, the market is totally hair-trigger here, and we waver between thinking that all projects will be canceled and all will be on plus billions more.
Remember, when oil goes higher, you have the umbrella of Deere
(DE)
and ag; Foster Wheeler
(FWLT)
and Fluor
(FLR)
in infra; and Transocean
(RIG)
and Schlumberger
(SLB)
and particularly Halliburton
(HAL)
in natural gas. Coal works, too, but I am addicted to natural gas and the XTO
(XTO)
/ Apache
(APA)
/ Anadarko
(APC)
complex is signaling all the right moves.
Don't outthink it -- with oil up big, these groups will be strong right into the end of the quarter.
Random musings: I have no idea what Clear Channel
(CCU)
is worth but it sure isn't this high with these fundamentals. ... I still think Citigroup
(C)
should trade back to its lows off the Whitney call. ... Fortress Investment Group
(FIG)
should not be this high with both Penn Gaming
(PENN)
AND Aircastle
(AYR)
hanging over them. This stock trades on its distributions, which have to come down. ... Hank Paulson really hurt us with his laissez-faire talk, and there was no need for it at this crucial moment. Does he play for the bears?
At the time of publication, Cramer was long XTO and Foster Wheeler.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. Watch Cramer on "Mad Money" weeknights on CNBC.
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