Jim Cramer: Yes, The Market Has Bottomed

CNBC:

If you thought you heard Cramer call a bottom during Tuesday's Mad Money, you were right.

"It smells to me like something, in fact many things," he said, "have at last changed for the better."

"I am indeed sticking my neck out right here, right now," Cramer continued, "declaring emphatically that I believe the market will not revisit the panicked lows it hit on July 15. and I think anyone out there who's waiting for that low to be breached is in for a big disappointment and [they're] missing a great deal of upside."

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Comments

[americanwhocares]

Jim Cramer is a loud mouth actor. I would never trust anything this clown says!

[splendidbeast]

Is he popping a zit?

[JimHancock]

What a clown. I used to think Cramer knew SOMETHING ...now it is obvious he knows NOTHING!

He might survive August, but I doubt he gets past September without a new low set (and it will keep going).

SOLD TO YOU Jimmy boy!!

[Nobrun]

Ya, right! The market has bottomed. And may Jimmy Carter rest in peace.

[schoolmaster]

Wonder how to trust anybody. It is a survival game, and without swings in the stock market, the brokers can not make it. How to find bottom in bottomless depth?

[MadxAsxHell]

Jim Cramer is brilliant, usually right, and, despite smears against him, is a Democrat, not a typical WS Re-thuglican. He was a genius as a money manager.

He said this: If he isn't right often enough, his show goes off the air. Period.

But he is wrong about the bottom. There's still a trillion dollars worth of mortgages to be resolved. We may get a breather, but it's far from over.

[bitabingbitabangbitaboom]

????????????????? Anyone Remember Michael Milkin ???????????

[Big0725]

Just when he went to prison and they took his hair piece. He had to do the perp walk bald headed.

[bluesman49]

wake me up when it crosses 10,000

[bitabingbitabangbitaboom]

Me Too

[apoyo]

Isn't this the same guy who said Bear Stearns was solvent right before it went bust?

[GunneraGirl]

May I ask someone who this Cramer is? What are his bona fides? From whence did he arise? I've never heard of him and he appears to be inaccurate, to say the least. Is he considered credible?

[StephenJK]

Cramer's story is a great one. He graduated magna cum laude from Harvard. Went to work as a journalist for a while. Started trading for Goldman & Sachs which led him to manage his own wildly successful hedge fund. Then started writing books about wall street and has Thestreet.com. He is one of the most respected streeters on the block which is why he has his own show, Mad Money. He's written, I think, 3 books about his life and wall street. Basically, he's a genius, period. He may be wrong about this and from time to time. However, Jim Cramer is right a LOT of the time. He's to be respected.

[JBS]

Suckers Rally.

[gurukalehuru]

If Jim Cramer says we've hit bottom, you know we aren't even close.
He does have a history of being wrong.

[StephenJK]

Who doesn't have a history of being wrong when it comes to the street?

[Wiredwilly]

Jim Cramer has bottomed out. It's just a matter of time until total economic collapse.

[kjdwyer]

I agree. This coporate cheerleader ignores a lot of factors, not the least of which that we're only about a third of the way through the mortgage crisis.

A lot of the mortgages were structured aver 10, 20 or 30 years and in such a way that borrowers could flip their properties and cancel the mortgage before a big baloon payment. Now that their ability to flip is doubtful at best, they will be facing huge payments down the road.

I've not yet heard any substantive analysis of how many mortgages like this are in play.

Anyone have any hard data?

[bitabingbitabangbitaboom]

You have to work the baloons payments dates backwards.­..........­..........­..........­..

[WorkingClass]

The first time I saw Cramer I thought he was a comedian. Then I found out I was wrong. Then I found out I was right. Sort of like the first time I saw Nancy Grace. I thought I was watching a soap opera. Turns out I was right again.

[layman]

Funny, he's not. Drama queen, he is
Everything he says is a federal case.

He's slobby trying to be snooty.

[mamacat]

Cramer is an entertainer. However, I get more enjoyment out of feeding and watching the pigeons than I do out of watching this guy.