Dan Dicker, energy contributor at TheStreet.com, talks to Jim Cramer about the continuing effect of David Einhorn's presentation on shale oil stocks. The hedge fund manager rolled out a short trade on several dedicated US shale oil Exploration and Production companies, including Pioneer Natural Resources (PXD), Whiting (WLL) and EOG Resources (EOG). Dicker believes that Einhorn's comments have helped to 'spook' investors out of these names, so many of them have not rallied higher even though oil has again breached $60 a barrel on the upside. Dicker believes that this can also be seen as an opportunity, as many of these stocks had outraced themselves in recent weeks. Einhorn's comments are helping to bring these shares back into value range and closer to where he'd like to buy them.
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