The Dow Jones industrial average broke out above the 18,000 level on Monday. Three months ago it seemed impossible to Jim Cramer that this could ever happen.
So, what fueled the run to this level?
"We rebounded from levels that we shouldn't even have been at, given that circumstances were changing for the better," the "Mad Money" host said.
When Cramer took a closer look, he found a singularly odd group of stocks with one thing in common — they were the least expected winners imaginable.
He ticked off the Top 10 names behind the Dow's run to 18,000.
The first was Caterpillar, which Cramer considered to be the most unlikely hero of 2016. Others were Verizon, IBM, Exxon, Chevron, United Technologies, McDonald's and United Health Group.
Another hero of the Dow was Netflix, which Cramer said investors should prepare that it could be downgraded on Tuesday following a weak guidance outlook in earnings.
At one time, The Gap was considered to be the quintessential American retail brand. But in the past two years, Cramer said the stock has gone from a retail titan to a prolonged underperformer.
"Remember those old commercials with the tagline 'fall into the Gap?' That is how this stock feels to its shareholders, just a seemingly endless free-fall," the "Mad Money" host said.
Even with all of its internal issues, the worst problem with Gap is something it may not have control over: the long-term decline of mall shopping.
Countless retailers have felt the effects of a downturn in mall traffic, as many consumers have migrated to shopping online. Ultimately, Cramer does not want investors to fall into the Gap.
Cramer: Biggest victim of mall shopping decline
On the flipside, Cramer addressed a little-known outperforming stock. National Beverage is a conglomerate of regional and national beverage brands that includes an assortment of soft drinks, juice, tea, bottled water and energy drinks.
While PepsiCo is up 7 percent in the past year, and Coca-Cola has rallied 14 percent, National Beverage has roared 89 percent higher in the same period.
"That is an astonishing move for a little-known soft drink maker, and it is really just the tip of the iceberg," Cramer said.
Cramer says the rebound in oil never had anything to do with Doha. It is blatantly obvious that it was always about supply in demand.
"I think the misinformation about oil is so legion these days that a vast majority of analysts and pundits got this whole oil minister meeting dead wrong from the very outset," the "Mad Money" host said.
The United States is pumping about 1 million barrels a day less than when it was at its high. With U.S. on the decline, Cramer expects oil production to drop to 8.6 million by year end from the 9.6 million produced in 2015. Meanwhile, the Saudis have produced about 10.1 million barrels a day.
"The idea that Russia was going to make a pact with the Saudis to keep oil frozen at these levels was a total fantasy. The Russians have no excess capacity," Cramer said.
Read More Cramer: Who really controls oil (Hint: Not US)
Cramer also took the time to circle back to stocks that he either didn't recognize or wanted to do more homework on before giving his opinion to callers.
One of those stocks was Aegion Corporation, a small company that is a leader in the infrastructure protection space. It provides proprietary coatings and linings that prevent corrosion in piping, bridges, tunnels and other waterfront structures.
Aegion has had a rough time in the past few years because about half of its business is related to energy and mining. On the other hand, its CEO has started to implement a major restructuring program.
So, while the stock is inexpensive, Cramer suggested taking a pass. "I believe oil prices will stay lower for longer and that is not good for their business. There are easier ways to try to make money," he said.
In the Lightning Round, Cramer gave his take on a few caller favorite stocks:
ConocoPhillips: "I think ConocoPhillips is good, but I prefer Occidental, which my charitable trust owns ... I like the dividend, and I like the fact that it did not cut it."
Revance Therapeutics: "That is a company that to me looks a little like Allergan, which is down ... my trust owns it and everyone has given up on it. I've got shorts telling me now that at $219 you've got to short it. 19 down, 100 up, OK?,"
Read More Cramer: 3 stocks I got wrong
