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Jim Cramer's 'Stop Trading!': Drill Into Nabors

06/17/08 - 03:22 PM EDT

CHK FTI HAL NBR SLB

TheStreet.com Staff
TheStreet.com Staff

Buy drillers! Jim Cramer said drillers are the way to go on today's CNBC "Stop Trading" segment. Cramer started off by discussing what stocks would benefit as a result of John McCain's announcing his plan to end the offshore drilling ban.

Cramer said it struck him that McCain has taken this new position to lift the offshore drilling ban, and believes drillers are the way to go.

Nabors NBR and Halliburton HAL were reiterated by Cramer as his two favorite plays in the drilling sector. Nabors is up about 4% to $47.06, and Halliburton is up 3% to $50.29.

Cramer pointed out another favorite of his, Chesapeake CHK, for making a new 52-week high today. He said, "CEO McClendon is a great leader." The stock is up 4% to $63.72.

Another driller Cramer likes is FMC Technology FTI. FMC is up about 3% to $78.25. He also suggested if you want to learn more about drillers, from an operational standpoint, to check out Schlumberger's SLB Web site.

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

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. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his 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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