Falling oil prices continue to put pressure on stock prices, but TheStreet's Jim Cramer says the real issue is if prices go too low. Cramer says he thinks there's too much enthusiasm for oil stocks at the moment, and reflected on a recent deal Concho Resources (CXO) made to expand in the Midland Basin.
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.