Cramer's 'Stop Trading': Schlumberger

Jim Cramer says Schlumberger is a buy, reaching levels investors probably won't see again.

Author:
Jeanine Poggi
Publish date:
Feb 4, 2010 3:16 PM EST

Jim Cramer says Schlumberger is a buy, reaching levels investors probably won't see again.

NEW YORK (

TheStreet

) -- When you see a stock that is barely up on a day like Thursday when the

S&P 500

is down significantly, that is a huge move, Jim Cramer said during his

Stop Trading

segment on CNBC.

He called out

Cisco Systems

(CSCO) - Get Free Report

, which was trading higher by a little less than 1% to $23.29 Thursday afternoon.

Cisco CEO John Chambers remains confident in his recovery forecast after the company reported better-than-expected second-quarter earnings. Cramer owns Cisco for his charitable trust.

Oil was down nearly $4 a barrel Thursday and Cramer said investors ought to buy

Schlumberger

(SLB) - Get Free Report

"right here, right now."

Cramer said the stock, which was falling 4.2% to $63.21 Thursday afternoon, was trading lower because of the broader market selloff; that weakness is undeserved, he said.

Schlumberger generally trades on big countries deciding it's time to drill, not on the price of oil, he added.

-Reported by Jeanine Poggi in New York.

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