Jim Cramer: Oil Services Stocks Appear to be Hitting a Bottom

TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer says it appears that oil services stocks like Halliburton (HAL) - Get Report and Schlumberger (SLB) - Get Report may have hit a bottom and could be poised to move higher. Cramer says. "the group is bottoming in the same way that the airlines bottomed at the end of June." One reason Cramer believes the sector may have bottomed is that rig count is starting to go up again. "$50 is the new $40 and at $50 a lot of the companies in the Permian (basin) are making good money," says Cramer.