• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Energy

Cramer: Is This the 'Big Give-Up' on Oil?

We may see the grand capitulation this commodity needs in order to bottom.
By JIM CRAMER Jun 20, 2017 | 02:37 PM EDT
Stocks quotes in this article: XOM, XEC

Why is oil giant Exxon (XOM) only down a half-dollar? Why is Permian powerhouse Cimarex (XEC) up almost a dollar? On a day when oil has definitely crashed through $43, what does that mean? (Cimarex is part of TheStreet's Action Alerts PLUS portfolio.) 

How can we not ask this question when we see oil finally hit the target that Carley Garner predicted when oil was at $53?

I think we are seeing the big give-up where the analysts are saying, "It's going to 30 in a heartbeat."

It will be messy, as Carley told me this morning, but I think we have a chance to see the grand capitulation that has to happen for this commodity to bottom.

How about this for a scenario: I think the inventory numbers could be OK, but what happens if there is less drilling now that oil has come down so far so fast? What happens if the Baker Hughes rig count doesn't go up very much?

That could be the tell.

We are watching and waiting for Action Alerts PLUS. Oil's at our target. But there is no harm in waiting to see if it holds.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long XEC.

TAGS: Commodities | Markets | Energy | Investing | Jim Cramer | Stocks

More from Energy

From Wall Street to Fantasy Island

Jim Collins
May 27, 2022 12:25 PM EDT

So, let me get this straight -- costs are rising, units are declining, and yet earnings are going to grow? Yeah, right.

Raising HAL

Bruce Kamich
May 26, 2022 3:43 PM EDT

Shares of Halliburton have the energy to make new highs, according to the charts.

Investing in Fantasyland Will Only Earn You Fantasies

Jim Collins
May 26, 2022 12:25 PM EDT

Here are the areas I'm buying, and here and the areas of which I'm turning away in disgust.

The Charts Map a Route to Phillips 66

Bruce Kamich
May 26, 2022 11:42 AM EDT

Shares of PSX have made an upside breakout, so investors can step on the gas.

Teekay Tankers Breaks Out of a Large Base Formation

Bruce Kamich
May 26, 2022 9:03 AM EDT

The technical signs for the marine energy transportation and storage company are flashing positive.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 10:58 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    "The Tremendous Power of the Sell Button"
  • 02:46 PM EDT STEPHEN GUILFOYLE

    We're Shedding Some of This Holding on Strength

    Check out the Stocks Under $10 portfolio here!
  • 11:33 AM EDT PETER TCHIR

    Thoughts Ahead of the Fed Minutes

    Recent economic and earnings issues are convincing...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login