Working the Oil Fields
With seemingly everyone in this group running for the exits, Cramer spots a trade.
Halliburton (HAL) is pulling back on this oil selloff, and I'm going to purchase 500 shares here at $40.94. This buy will give me a total of 4,000 shares of Halliburton, or 4.5% of my portfolio.
The stock has dropped 7% in the past week and a half, and of any of the energy companies selling off here, Halliburton has proven to be a good name to own when everyone else is running for the exits.
Regards,
James J. Cramer
DISCLOSURE: At the time of publication, Cramer was long Halliburton.
Send email to james.cramer@thestreet.com.