Oil's Letting You In

Sell oil! SELL OIL! INVENTORIES ARE WAY TOO HIGH!

Oh, please.

We have seen this pattern so many times that it is beginning to get a little nauseating.

If oil inventories in the United States really controlled things, then oil would be at about $80 and we would be buying Exxon (XOM - commentary - Cramer's Take) at $70. Natural gas would be at $7.

I am adamant that there is very little correlation between the inventories and the price of oil worldwide and the price of the stocks that are traded off it.

The idea that Transocean (RIG - commentary - Cramer's Take) can be down, for example, given this number -- it was up when the company first reported -- is simply irrational for all except the most hair-trigger hedge funds.

But of course the hedge funds are the ones that control everything in the short term, so I understand the obsession.

My take, once again -- you have been given a gift. You can get in, once again.

Because there is simply no other story out there this good.

As others ask, "Is this a bubble?" or, "Isn't it all hedge funds?" I say, "Wait a second, that's what I have heard for the last $75 in oil."

People are always saying, "The stocks never let you in."

I say that they are letting you in constantly, and this is just one more example.

Go to work. Find something.

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

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