Cramer: A Reason to be More Bullish?
"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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