I have long championed these companies, particularly Core Labs, which tells you where to find the hard-to-get oil in what looks like spent reservoirs. This technology matters particularly for either those majors that are desperate to find more oil, or, more likely, the smaller companies that buy properties from the majors and get out the marginal oil that allows them to boost reserves when they buy old fields.

FMC and Oceaneering are deep water plays, the service companies you need to bring in when you are drilling where the oil still is. These are companies that you bring in for harsh environments both to repair -- Oceaneering (remember them post-Hurricane Katrina?) -- and just to extract hard-to-get oil -- FMC.

In a market where the regular tech companies seem stretched on a multiple basis, these stocks only seemed stretched on a chart basis -- don't look, they are all classic parabolas.

I like to buy these stocks on a 3-5% pullback. That hasn't happened lately. Which means that we are now in that period where you have to bet against yourself and take some down now -- I like to do it with long-dated, in-the-money calls -- and wait for the pullback that might never occur. At least you will have "something on" for the constant advance. And if oil breaks below $78, you will get a chance to buy another tranche at better prices.

(For those unfamiliar with this strategy, here I would be talking about, for example, the January 110 Core Labs calls at $23. Or January 50 FMC Tech's, or Oceaneering January 75s for 12).

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Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. At the time of publication, Cramer had no positions in any of the stocks mentioned in this post.