Jim Cramer said to ignore headlines about oil inventory being at a high, on his
"RealMoney" radio show Friday, adding that there is a miscommunication problem between Wall Street and oil companies.
What Wall Street believes about oil companies is not the same as what the oil companies think about each other, he said.
Another reason Cramer gave for not taking "scary" oil headlines into consideration: the news on Friday that oil and gas producer
acquired two smaller competitors,
, for $21 billion.
What's happening right now is similar to what happened after the crash of 1987, when there was a gigantic rush of mergers. Oil's valuation levels have been knocked down, Cramer said, advising his listeners to strike now, before oil and gas and mineral stocks go much high.
The oil stocks are all cheap, he said as are the copper, coal, aluminum and gold stocks.
Cramer said he's been buying
, the cheapest aluminum on Earth, for his charitable trust,
Action Alerts PLUS.
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At the time of publication, Cramer was long Alcan.
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