Cramer: A Reason to be More Bullish?

Oil Rescues the Markets

Mad Money host Jim Cramer says the cavalry finally came into the market today in the form of lower oil.

"For once, something good happened," Cramer said Wednesday. "Oil went down. Oil broke through the $93 level that seemed like it was a reinforced, concrete floor."

As oil prices fell, the "Mad Money" host noted the averages were able to rise from hideous lows. The $93 level translates into roughly $3.75 a gallon at the pump, Cramer said. So dropping below that level was important and we should soon see gas prices fall, too.

Any drop in gas prices is a reason to be more bullish, Cramer said. After all, gasoline price increases acts like a tax on the consumer. When gas prices fall, though, consumers have more to spend on other things. So a drop in gas prices would work out to be almost more profitable than any tax agreement Congress could come up with.

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