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Asia's Resurgence Fuels the Oil Trade

By Jim Cramer

 About this article:
 The oil trade continues to work. It doesn't hurt that oil finished at a five-month high today! The rig count may be low, the oil stocks' earnings hideous, as we know from ConocoPhillips and Chevron and ExxonMobil . The drillers' top-line numbers may be sad, but it is all about a perceived bottom and how oil is so cheap relative to the other comeback commodities. Could this be a U.S. bias? We keep looking at our inventories, which are bloated beyond belief. We keep looking at the natural gas price, which seems to never get out of its own way. But any industrial comeback isn't in any of these numbers, and we know we are going to see one -- all of the data points to it. I keep pointing out this move because it is like the steel move and the beta trade I...

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