Jim Cramer is officially calling the recent run in crude the "great Goldman Sachs oil rally."
On Friday, Goldman raised the low end of its predictive range for oil to $25 from $20, which signaled to Cramer that the credit crunch could finally be over.
"When the biggest — and most correct — bear says that perhaps the bottom has been put in, that is good enough to spark a rally that makes it so the largest real worry out there gets taken off the table," the "Mad Money" host said.
Goldman's call made sense to Cramer because of the combination of oil companies accessing equity markets for cash, rising demand for gasoline and cancellation of oil projects were great signals.
read more
http://www.cnbc.com/2016/03/11/cramer-oils-biggest-worry-now-off-the-table.html
Cramer: Oil's biggest worry now off the table
On Friday, Goldman raised the low end of its predictive range for oil to $25 from $20, which signaled to Cramer that the credit crunch could finally be over.
"When the biggest — and most correct — bear says that perhaps the bottom has been put in, that is good enough to spark a rally that makes it so the largest real worry out there gets taken off the table," the "Mad Money" host said.
Goldman's call made sense to Cramer because of the combination of oil companies accessing equity markets for cash, rising demand for gasoline and cancellation of oil projects were great signals.
read more http://www.cnbc.com/2016/03/11/cramer-oils-biggest-worry-now-off-the-table.html