Cramer Says The Canadian Trusts Are Oversold, Buy the Canadian Oil Trusts

Cramer on MAD MONEY said you can now BUY the Canadian oil trusts after they took a huge beating from the Canadian tax changes.Canetic Resource Trust (CNE) with a 19% yield;Enterra Energy Trust(ENT) with a 20% yield.The Canadians allowed all TRUST shares to pass on a dividend TAX FREE, but the breaking of a campaign promise not to tax these trust as corporations was made. In 4 years there will be 35% of the dividends shaved off for Canadian taxes. He said the trusts fell 10% to 30% immediately on the news, which you know if you follow them.He said the bounce started today and it will continue, but you are also getting a call option essentially free that the new Candian legislation will be stopped or changed.He has 3 more that fit the bill. He thinks that these are huge dividend names Pengrowth (PGH), Baytex Energy (BTE), and Precision Drilling (PDS). They are all bouncing on big volume and these are all buys.Jon C. OggNovember 15, 2006