Why Oil Stocks Are Going Higher
Cramer is ever the contrarian, for sure, but not right now when it comes to oil.
One of the market’s most beloved group is beloved for a reason, and he thinks oil will be a big theme for 2011. It’s a simple case of supply and demand: Countries around the world can’t get enough, but there just isn’t enough to supply them all that they need. This almost guarantees higher crude prices going forward.
It means higher stock prices for the related companies, too, Cramer said Tuesday, whether oil pulled back or not. To prove his point, he looked to the chart work of John Roque, head of WJB Capital’s technical analysis group. Watch the video to see his full report.
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