This column was originally published on RealMoney on May 4 at 11:51 a.m. EDT. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.
You can't keep these drillers down, and the reasons for the run vary from the shortage of oil for the international integrateds (just did a video with Keith Lieberthal on this very issue, watch for it on the site soon) to the turn in natural gas prices.
That's good news. There is a whole cohort of natural gas drillers that can move ever higher and there's an equal thrust to own the
(I would emphasize
, too, as a laggard, but the contempt it's showing for its shareholders vs., say,
can only be described as frightening.)
just now turning in the U.S. If Canada turns, I believe you could see the
Oil Service HOLDRs
easily breach its high of $168. When it does, the resistance will disappear and a remarkable re-valuation even from these levels will begin.
Simply put: There's a lot more ahead. I would remain a buyer of this very important group.
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my take on the
At the time of publication, Cramer was long Transocean and Halliburton.
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