Cramer's Morning Take: Israel-Hamas War 10/9/23

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Jim Cramer (0:33)

Jim Cramer here to share with you a sample of my take on the market from today's CNBC Investing Club morning meeting. I want to get right to the issue. Stocks are slightly down, the QF news, and that is because of the horrific attacks on Israel by Hamas.

And to make it clear, there was a massacre, and my heart goes out for the people who were massacred.

Jeff Marks (1:00)

No, it's definitely horrific scenes from over the weekend. But the market, you know, I'd argue largely shrugging things off.

Jim Cramer (1:08)

It's hard, very hard to, other than the defense stocks going up, very hard to try to figure out because the Saudis this time are not prone to side with the axis of evil, so to speak, as they did in 1973

So I think you see people trying to assume that maybe inflation goes up because oil goes up. So if the bonds were down and interest rates up, this would be what you see.

Jeff Marks (1:37)

A little bit of a spike in oil, call it 3%, 3% to 4% today. So, you know, NACS as well, big move in Cotera today. Not so much in Pioneer as there's still a question around M&A. Of course, last week we had that reported story about Exxon's interest in the company.

No news yet on that front. I know you guys were talking on Squawk with David Faber saying there may be a large stock component of the deal. Maybe a low premium, kind of like what Exxon did in their Denbury acquisition.

Jim Cramer (2:08)

Right, I don't like the stories because one, they were supposed to happen today, and then two, well, imminent, I thought they may. There's no reason to say imminent. But my April 27th interview with Scott Sheffield basically said, listen, there's nothing going on. I'm not interested in selling. And more important, this stock did trade at 270, mid 270s, so you would think you wouldn't sell below that. Now, this is just pure math, okay? So natural gas goes from 220 to 330 Just think of it as a percentage versus this going from, say, 65 to 86 And Kotara has a dollar.

And this is, so they get $2.75, $2.75, $3.75, $2.375 for a BCF. So $2.37 more on a percentage basis is extreme. And therefore, I reiterate that I think Kotara should go to 35

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