TheStreet.com RealMoney

The Market Is Too Spooked by Oil Prices

By Jim Cramer

 About this article:
 This market sometimes has no idea what it is doing. Our stock market cannot absorb another run to $70 or $80 oil. The Procter & Gambles and the Dow Chemicals cannot withstand it. The consumer cannot stand $3 gasoline, as the whole rally in the Darden/Brinker cohort was on the backs of the lower price of gasoline. We can't lose the Macy's and the Kohl's either, and we learned that they are dependent on low, stable gasoline. Yet, this market has to have all three -- tech, oil and finance -- go up, and the most important of these remains oil! So we get smashed on Occidental, Transocean, Chevron and Exxon Mobil. It's absurd! I think the market's wrong. Tame oil in the $50s is still doable and won't kill the market. That's why I am thrilled that $60 looks like a tough level to take...

You have just read the beginning of a premium article from our RealMoney Service. To read the rest of this article and sign up for a FREE trial please click below.

ACCESS STORY & START A FREE 14-Day Trial
Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET.
Outside the U.S. and in Canada, call 1-212-321-5200.



Already a RealMoney subscriber? LOG IN.
Username: Page data is submitted securely.
Password:
Forgot your Password? Click here


100% Money-Back Guarantee
If you decide to subscribe and you're not completely satisfied with TheStreet.com RealMoney, just call us within the first 30 days of your subscription and we'll refund your full annual subscription price — guaranteed.




If you choose a 14-day free trial of RealMoney and you do NOT call to cancel within those 14 days, you will pay $129.95 — a $100 savings off the regular annual subscription price of $229.95. Unless you cancel before the end of that year, your subscription will automatically renew for another year at the then-current subscription price.

Offer applies only to new annual subscriptions, and is subject to change at any time. Void where prohibited.

If you choose a monthly subscription, you pay $34.95 per month. You will be notified if the current monthly rate of $34.95 changes at any time in the future.

TheStreet.com is a publisher. None of the contributors or their affiliates will provide you with personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. From time to time, any or all of the contributors or their affiliates may hold positions in securities mentioned and they may trade for their own accounts. In cases where the position is held at the time of publication, appropriate disclosure is made.

© TheStreet.com, Inc., 14 Wall Street, 15th Floor, New York, NY 10005.