Goldman Sachs Call Adds to Einhorn Call and Oil Woes
OIl prices had been showing short-term strength, but now many of the oil stocks have halted their rise and are headed south.
Dan Dicker, Energy contributor at TheStreet, talks to Jim Cramer about the Goldman Sachs oil call of $45 a barrel by October. OIl prices had been showing short-term strength, but between the short call of U.S. energy E+P's by hedge fund manager David Einhorn and the Goldman call for $45 oil, many of the oil stocks have halted their rise and are headed south. Dicker believes that the 'bust' cycle of oil has yet to be fully played out and is in relative agreement with the Goldman Sachs outlook, while Cramer is of the view that demand is growing and efficiencies inside the best U.S. oil companies cannot be ignored. Cramer likes EOG Resources (EOG), Dicker likes Cimarex Energy (XEC).
