Jim Cramer’s Stop Trading! – Buy Iraq Drillers
“BP (NYSE:BP) will be a huge winner for investing in Iraq ahead of the competition,” Jim Cramer told viewers of Monday’s “Stop Trading!” segment. He pointed out that everyone laughed when BP first moved into Iraq, but the stock has done nothing but go up since then. “People understand that being friendly with the Iraq government,” Cramer said, “could mean a lot of good things.” Cramer holds shares of BP in his charitable trust. “You buy companies when they drill in Iraq now because it’s low-hanging fruit,” Cramer said. He mentioned that Schlumberger (NYSE:SLB) could possibly bring Iraq up when it reports earnings on Friday and National Oilwell Varco Inc. (NYSE:NOV) could see a pick up in orders. Cramer also said that ExxonMobil (NYSE:XOM) should think about going into Iraq before BP locks it all up. Join the fastest growing community of small cap investors at Stockhideout.com
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