Dan Dicker, energy contributor at TheStreet.com, talks with Jim Cramer about oil services stocks. Cramer particularly is favorable towards Schlumberger (SLB), which he sees as best of breed. But, even with this vote of confidence, Cramer feels that Schlumberger is still overpriced compared to oil prices still below $50 a barrel. Dicker agrees, citing the lag between the drop in oil prices and the actual drop in oil services. Dicker also points out the collapsing prices for services being charged, as all the oil services companies compete for shrinking business.
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