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I'm Still Watching Chevron and Exxon

By Jim Cramer

 About this article:
 Oil can't lift but it can't go down, either. Most of the projections I hear have oil at $40. Given that most of the projections have been wrong, endlessly, I am taking my cue from Exxon and Chevron , which have had monster moves off their lows since oil plunged to these levels. How many stocks have moved the equivalent of $62 to $80? That's not the kind of change that you would expect with this oil plunge. Could Exxon be wrong? I often criticize the way the stock trades because it has been responsible for the beginning of every turn in this market, even if the oil futures are going down. But when oil was roaring, this stock just kept going down. I think Schlumberger is definitely wrong down 6 because the stock is back to 2003 levels. I say give me a break....

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