Schlumberger CEO Pessimism Doesn't Stop Shares From Rallying

Dan Dicker, energy contributor for theStreet, talks with Jim Cramer about the very pessimistic comments and disastrous drop in third quarter profits for oil services giant Schlumberger (SLB). But Dicker thinks this finally realistic view of the long road of recovery for oil services companies may be a good thing. Cost cutting, a drop in the price schedule for services and more layoffs signal a company that is preparing for the long drought of low oil prices and curtailed drilling projects. A lean and mean Schlumberger still makes them the best bet in the oil services group, Dicker says, despite the group remaining far away from growth times.