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Cramer's Wall St. Confidential: Not Trusting Energy

Stock quotes in this article: XOM , COP , CVX  

Although oil stocks got a bit of a bounce today and Friday, Jim Cramer said on TheStreet.com TV's Wall Street Confidential video Monday that he still doesn't trust these stocks.

People knew the price for oil stocks were ahead of the price for oil, but they held these stocks up and now they have cratered, he told Aaron Task, the host of Wall Street Confidential.

When oil prices were this high before, Exxon Mobil (XOM Quote) was in the $60s, whereas right now it is in the low $70s, Cramer said.

He also said that he was "blindsided" by the ConocoPhillips (COP Quote) disclosure of poor margins. After saying "a lot of really good things" at its meeting a few weeks ago, Cramer said he was surprised at Conoco's news. ...

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Dow Jones S&P 500 NASDAQ 10-Year Note
10,309.92 1,091.49 2,138.44 32.31
Oil *
77.12
DOWN
154.48
DOWN
19.14
DOWN
37.61
DOWN
0.48
10 Yr
3.23%
SPDR Gold
115.06
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-1.73%
-1.46%
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