The market rallied on Thursday simply because the price of oil spiked.
Does this mean that a bottom in oil has finally been found? Maybe, but Jim Cramer thinks, given the history of oil, that could be harder to predict than most expect.
When Cramer was recently researching the history of crude oil, he came across various articles written last year at this time, when oil was in the high $40s.
The talk back then was all about whether oil would have a V-shaped recovery back to $100, or if it would be a U-shaped recovery back to $70.
"I could not find anyone who thought that oil would break down hard from those levels," the "Mad Money" host said.
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