Energy stocks are going to keep declining and oil could be going down to $62 a barrel, Jim Cramer said Friday on
"Stop Trading!" segment.
Shares of energy companies are in what Cramer called a "free-fall zone," and he predicted the
Oil Service HOLDRS
, a basket of securities tracking the sector, would drop to $125. Currently, it's at $131.75 and has traded between $105.45 and $169.75 in the last year.
"Is it a buying opportunity? With your money," he said, suggesting he wouldn't be involved in a long bet.
Moving to the tech sector, Cramer said he believes
midquarter update Monday will be "terrible," but that the stock will still go up $1. He also predicted that strength in
and other game stocks, as well as
, will overcome anything bad that
might say Tuesday when it reports earnings.
Cramer, speaking of
, said the company's buyback at this point is "so aggressive, what's not to like?" He also offered a bullish view on
For the football fans, he forecast a 9-7 record for his hometown Philadelphia Eagles this season.
At the time of publication, Cramer had no positions in stocks mentioned.
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