Oil is going higher, Jim Cramer said on his
"RealMoney" radio show Tuesday.
Every time there is a glitch, oil goes up and continues to stay up, even when the bad news, which caused it to go up, goes away, he said.
Alaskan oil field closure has primarily hit the West Coast, and refiners there are scrambling for crude oil.
Out of all the refiners,
is getting hurt there the most, Cramer said. The stock is up big right now. Thus, he believes that it is a good opportunity to get out of Tesoro now.
The Strategic Petroleum Reserve is not going to solve the country's energy problems, as some people may believe, Cramer said. Yet, we still don't drill offshore and continue to rely on unstable allies for oil.
A lot of people also believe that the way to make things better is liquefied natural gas (LNG), but we can't manage to build LNG terminals. If these terminals do get built
is the winner in this group, Cramer said.
"The nation's energy policy is a complete mess," he said. "Once we get to $80 a barrel, there will be more misplaced outrage and calls for a solution."
After this, people will accept the new price, Cramer predicted. That is, until it goes even higher and reaches $100, he said.
The lessons to be learned here is that we should spend a little less time worrying about whether the
will raise interest rates and that people in Washington should care more about this oil problem.
Although all the big firms on Wall Street believe that oil is going down, they are wrong, Cramer said. "Own an oil stock," he said.
"The equivalent of Brad Pitt and Angelina Jolie hooking up has taken place online," said Cramer.
is going to be handling the searches and ad placements for
Even though other search engines wanted in on this deal, Google secured it by guaranteeing News Corp. $900 million in ad revenue over the next four years, Cramer said.
News Corp. is one of those amazing stories of a company that took bold action and it paid off, he said. He added that he remembers when people thought it was a wrong move for News Corp. to buy MySpace.
MySpace is not the only game in town, he said.
is a company that Cramer believes is worth $1 billion.
MySpace has the potential to be a game-changer for News Corp., and Cramer believes that News Corp. is worth buying right here, right now.
One thing investors tend to do is buy a brand name company when they see it coming down, Cramer said. But people should never just buy a stock without doing their homework first.
An example of a stock where its brand name didn't necessarily work is
Bausch & Lomb
In March, the stock was doing well in the $70 range; it is now at $46, said Cramer. The problems started in April with the company's Moisture Loc contact lens solution, and now no analyst wants to get behind the company.
Even though it's low, Cramer warned that Bausch & Lomb is still too dangerous and advised people to stay away.
On a separate note, he said that
Alon USA Energy
are two oil plays people should look into if they want to get revenge from the pump.
Both of these companies are making a ton of money, he said.
"Any time a company reports an in-line number when everyone is looking for something much more than that, you get this unbelievable type of free fall," Jim Cramer told a caller who inquired about
When you get these high-growth companies, they are supposed to do much better than Wall Street expects, he said. Hansen Natural is done, Cramer said, and every time it rallies, it's an opportunity to get out of it.
Advanced Micro Devices
is a well-run company, and as we get into the fall, people should want to own stocks like these. However, AMD is problematic here, Cramer said.
Advanced Micro Devices is not in control of its destiny, he explained. Because you have
trying to cut prices, AMD is going to be affected, he said.
When a caller asked about
Abercrombie & Fitch
Cramer said that even though he personally feels teen retail is a tough place to be, Abercrombie is cheap.
It is a good buy, but not necessarily for this fall, he said.
, which Cramer owns for his charitable trust,
Action Alerts PLUS, is a stock that is hurting, but the company is doing well, he said.
Cramer said he is not discouraged by Qualcomm, because he likes to make long-term bets.
, which he also owns for his charitable trust,
Action Alerts PLUS, is an infrastructure stock you should be buying, he told a caller.
Cramer said he believes that ABB will take out its high in the next six months and added that is the cheapest in its group.
is one of the tech companies Cramer said he likes the most.
He sees momentum there and believes that people should be buying, not selling, it.
When a caller asked about
, Cramer called it a remarkable company, which at $23 is a buy here.
He told another caller that he is concerned about
, as the company is in denial about how badly it is performing. He said he could not endorse a buy.
is a definite keeper, he told another caller.
Though many people believe ConocoPhillips paid too much for
, Cramer said this is untrue. He believes that it was a good deal and that, over time, the acquisition will pay for itself.
"ConocoPhillips is one of the few companies out there that is trading through its growth rate," he said, adding that it is run extremely well.
You should buy, it and people who have it should hold on to it, he said.
At the time of publication, Cramer was long Qualcomm, ABB and News Corp.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
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