This column was originally published on RealMoney on Sept. 7 at 8:45 a.m. EDT. It's being republished as a bonus for TheStreet.com readers.

Oil peaked. It's OK. It's not a sin to own it; there are still dividends. There are still buybacks. There are still takeovers.

But there won't be any more outperformance.

That's what the stocks are saying.

I want to disagree with the stocks. I want to say, "Wait, you liked

Valero

(VLO) - Get Report

at $60, how can you hate it at $53?"

But that's not the way you look at commodity stocks. You have to look at them as peak-and-valley stocks, not stair-step stocks.

When

Anheuser-Busch

(BUD) - Get Report

says the fall might be tough, you ride through it or you switch to a staple company where things are easy.

But with the oils, you can't say, "OK, I will sell

Occidental

(OXY) - Get Report

to buy

Marathon

(MRO) - Get Report

." You can't because your fellow shareholders have now become your enemies, trying to exit on your back.

You can hope. You can hope for something bad happening in the world, some terrorist action. You can hope for a hurricane.

But, as I say in

Jim Cramer's Real Money: Sane Investing in an Insane World

,

hope is not part of the equation.

There's still time to lighten up in the oil group.

At the time of publication, Cramer was long Anheuser-Busch.

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

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