On Tuesday on CNBC's "Stop Trading!" segment, Jim Cramer said that Exxon Mobil (XOM) - Get Report was his "tell" for predicting a bottom in oil. On Wednesday's segment, he said Exxon is also the stock he looks to to predict whether there will be an end-of-the day rally.
He told viewers to start watching the stock at about 3 p.m. EST. "This stock will predict it. If this stock goes positive by 3:30, you will see one of those end-of-the-day ramps 90% of the time, regardless of where oil is," he said. "This stock has been the key to every single rally."
He said there's no need to watch any other stock to predict a rally, "with the possible exception of
"Just watch Exxon," he said. "When that stock goes positive, you're going to get a rally."
With the impending release of
Research In Motion's
BlackBerry Storm and a recent buy recommendation on the stock from Goldman Sachs, investors are watching RIM, too. "If you're a bull, you know that five other analysts are going to recommend RIM," Cramer said, "and maybe you catch three points, which in this market is monumental."
Cramer also addressed the yields of
New York Times
, which pays a 13% dividend, and
, which pays close to 22%. "I don't know," said Cramer. "When I start seeing dividends of 22%, it raises eyebrows."
At the time of publication, Cramer had no positions in stocks mentioned.
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