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The 'Buy Tech on Cheaper Oil' Trade Is On

By Jim Cramer

 About this article:
 This market loves it when oil gets hit. People paying $1.66 a gallon for gas have the potential to buy holiday gifts. They also like the refinancing. We have not seen the fruits of either of these two positives, but I can tell you that the market likes these positives and knows that they could make quarter-to-quarter compares better if unemployment holds. I have been saying that these are the two positives, and when they are threatened -- either by rising mortgage rates or by higher crude -- you get a big decline in the financials and nasty selling in tech. The obverse is now true and the "oil futures down: buy tech" trade is raging, whether it makes sense to you or not. There are pockets of silliness, Exxon going higher, up huge at one point, when oil was way down, but that's part of the...

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