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Jim Cramer's Stop Trading! Buy Oil Drillers

TheStreet.com Staff

It's time to buy the big oil drillers -- and to avoid tech, Jim Cramer said Monday on CNBC's "Stop Trading!" segment.

Cramer said he likes Halliburton (HAL Quote) even though the stock's slow progress has been "frustrating," and said technician John Roque's call to buy Transocean (RIG Quote) is "fabulous." Cramer said Transocean is setting up for a run like the one Schlumberger (SLB Quote) had some years ago.

Cramer said investors need to embrace what's working, which means agriculture and aerospace and infrastructure -- but not tech.

"Forget the Intels (INTC Quote) already," Cramer said. He said tech continues to fall and that the decline isn't done. "The worst part of tech is about to happen," he said.

Cramer said tech stocks and many of the favorite big-cap stocks of yesteryear -- Pfizer (PFE Quote) and Glaxo (GSK Quote), for instance -- are "challenged," so it's wise for investors to ignore them.

Cramer prefers Deere (DE Quote), Caterpillar (CAT Quote), Parker Hannifin (PH Quote) and Foster Wheeler (FWLT Quote), all of which he described as "not challenged."