This article was originally published Feb. 23Click here for an archive of Jim Cramer's Mad Money recaps.
"The supermarket aisles are the only place to hide," Jim Cramer told the viewers of his "Mad Money" TV show Monday. On yet another chaotic market day, he said consumer staples are one group that's not coming unhinged.
Cramer: Buy Oil
Oil's Comeback"Hard assets keep their value in times of turmoil," Cramer told viewers. That's why he remains a huge supporter of gold producer Agnico-Eagle Mines ( AEM). In addition to gold, Cramer said there's another asset that's about to get its day in the sun: crude oil. Cramer said the historic plummet in oil prices from $147 a barrel to $33 a barrel is largely assumed to be from demand destruction and over supply, but this notion isn't entirely true. He said that price manipulation by hedge funds also played a large part in the rise and fall of the commodity. And with hedge funds now selling in record numbers, the price of oil has become artificially low. But Cramer said there's a lot more to like with oil. OPEC is set to reduce supply next month, which should also help stabilize the price. China, he said, will also play a huge factor, as its economy is poised to be the first to recover. Cramer said oil will be a big theme in 2009, and he likes BP ( BP - Get Report), a stock which he owns for his charitable trust,