Buy a dip in oil stocks, stay away from everything else

CNBC’s Jim Cramer told Monday that the only stocks investors should buy the reduction are oil names.

“I want to be kind to this market and tell you it’s the same old buy the dips game plan. But in reality, the only dip that can be bought right now, at least, is the oil dip. Everything else yet are, as they say now in a disastrous way, transactions and nothing else, ”said the host of“ Mad Money ”.

Cramer said there has been some stock disappointment in the market recently that has caused him to be wary of non -oil names. He noted that AMD shares had fallen a few days before its analyst meeting on Thursday, and he expects Apple analysts to downgrade the iPhone maker’s stock if its Worldwide Developers Conference finds it difficult to provoke “raging bears.”

“When [stocks] start strong, there is a good chance that they will give up the ghost at noon, ”he said.

Elon Musk’s public dispute on Twitter over his acquisition deal is another source of frustration in the market, Cramer said.

However, for oil, even when sellers arrive buyers come back immediately and keep the stock afloat, according to Cramer, which makes those stocks different from others in the market.

“Prices will go up at the pump and no one except the president can do anything about it – and even if he can’t do all that.… Either way, the lesson is simple: just spend some time on some oil stocks ,” he says.

Disclosure: Cramer’s Charitable Trust owns parts of AMD and Apple.

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