Cramer: Yes, The Market Has Bottomed

Posted by Bess Levin, Jul 31, 2008, 1:47pm

And don't forget: buy Bear Stearns. [CNBC]

4Recommend this! 34Comments

Tags: bottom, James Cramer

Comments

1

Posted by AJ , Jul 31, 2008 1:49PM

SELL!

2

Posted by guest , Jul 31, 2008 1:50PM

Setting your money on fire is more fun than following Cramer's advice.

3

Posted by guest , Jul 31, 2008 1:54PM

also more profitable

4

Posted by guest , Jul 31, 2008 2:05PM

You're so right. Why don't you have a show on CNBC?

5

Posted by chad , Jul 31, 2008 2:06PM

you idiots, the market bottomed months ago. whats going on right now is just tremors.

6

Posted by guest , Jul 31, 2008 2:06PM

drill, drill, drill!


7

Posted by guest , Jul 31, 2008 2:07PM

buy my book buy my book- i hate that guy

8

Posted by guest , Jul 31, 2008 2:12PM

BUY FINANCIALS!!!

9

Posted by guest , Jul 31, 2008 2:12PM

BUY FINANCIALS!!!

10

Posted by guest , Jul 31, 2008 2:27PM

one more time

11

Posted by guest , Jul 31, 2008 2:28PM

Put all your money in GM. It can only go up.

12

Posted by guest , Jul 31, 2008 2:31PM

Put all your money in GM. It can only go up now.

13

Posted by guest , Jul 31, 2008 2:38PM

GM is AMC ver.2008

14

Posted by guest , Jul 31, 2008 2:39PM

WTF WaMu up 20%

15

Posted by guest , Jul 31, 2008 2:59PM

Cramer declaring the market has bottomed is so Tuesday. Last night Cramer was in a cheerful, skippy mood because the market had rallied two days in a row.

Cue Jimi Hendrix. Manic ... depression ... is a frus-tra-ting mess!

16

Posted by guest , Jul 31, 2008 3:10PM

wamu sold 6% to UK hedge fund
the funny part is the Oct 4 puts trading up on the news

17

Posted by guest , Jul 31, 2008 3:17PM

@chad

http://ca.finance.yahoo.com/q/bc?s=%5EBKX&t=1y&l=on&z=m&q=l&c=

months ago?

18

Posted by guest , Jul 31, 2008 3:20PM

Will someone explain to me how could the market have bottomed as long as the SEC has protected certain financial companies from short sellers (and not just naked short sellers. Anecdotal evidence suggests that some Banks are not executing ANY short trades on the "protected few")
Moreover, how about the continued presence of the discount window (now open until Jan 2009 - merry christmas?).
As long as these "special protections" exisit there can be no REAL bottom.

19

Posted by Debter , Jul 31, 2008 3:30PM

18 is correct, I don't think we've seen the capitulation trade just yet, and you won't as long as big brother (US Gov't) is protecting his little brothers (banks, fannie and freddie) from the bullies (aka short sellers). Whatever, I say go on vacation this month a la ALL OF F'ING EUROPE (who seem to be all over the city).

20

Posted by guest , Jul 31, 2008 3:38PM

WaMu didn't sell 6% to UK hedge fund. The UK hedgefund bot that stock in the open market averaging down on a position that Toscafund started on when WaMu was $40. Yes they spent $500 million averaging down, but they did so in the open market and WaMu got NOTHING.

Toscafunds performance this year is about -35% to -40%.

WaMu CANNOT rally issue stock due to the ratchet clause contained in their $8.50 financing.

21

Posted by guest , Jul 31, 2008 3:39PM

WaMu didn't sell 6% to UK hedge fund. The UK hedgefund bot that stock in the open market averaging down on a position that Toscafund started on when WaMu was $40. Yes they spent $500 million averaging down, but they did so in the open market and WaMu got NOTHING.

Toscafunds performance this year is about -35% to -40%.

WaMu CANNOT rally issue stock due to the ratchet clause contained in their $8.50 financing.

22

Posted by Johnny , Jul 31, 2008 3:42PM

@ 16

I know the WM is old news already, but when a stock pops 20% (for any reason) there will ALWAYS be people looking to short it, buy puts, etc. Why the confusion?

23

Posted by pdtrading , Jul 31, 2008 3:49PM

Is it too late to get Jimbo convicted for a crime he didn't commit so he can get sodomized in prison?

24

Posted by guest , Jul 31, 2008 3:57PM

Was I the only one watching about 7 months ago when that clown declared the so-called sub prime problem wasn't a problem at all and was limited to a couple of guys at a corner desk made a bad bet on a few mortgages.
Could anyone have been further removed from reality.
More Cool Aid please

25

Posted by guest , Jul 31, 2008 4:02PM

Cramers blog title on his site is "Yeah, So? It's Some Profit-Taking". That tells you all you need to know.

26

Posted by guest , Jul 31, 2008 4:10PM

hi #11,

gm bonds (senior stuff) appear to me to be a screaming buy here.

49 cents on dollar yields you like 17%.

so you either double your money every 4 years

or

you're buying a cheap warrant/option on a restructuring IPO.


obama already tipped his hand that GM will get bailed out the gubment.

so there's your insurance.

27

Posted by guest , Jul 31, 2008 4:13PM

being a bondholder gives you like superhero powers.

you can petition for a liquidation of assets.

which is why they always wind up "bribing" the bondholders with lots of extra equity.

which you promptly sell of course.


you get some nice legal tax benefits here as well.


28

Posted by guest , Jul 31, 2008 4:45PM

Gotta love senior secured debt.

29

Posted by guest , Jul 31, 2008 5:21PM

All the rules coming down the PIPE(CRACK) from the SEC, FED, TSY are all meant to do one thing only...BUY OR DIE BITCHES...Prop this motha up for one last blowoffthemothafuckingtop...LOL.

30

Posted by guest , Jul 31, 2008 6:37PM

Perhaps there should be an ETF that is contra to whatever Cramer says.

31

Posted by guest , Jul 31, 2008 7:14PM

puff puff give.... PUFF PUFF GIVE!!! You f*ckin up the rotation....

32

Posted by guest , Jul 31, 2008 8:06PM

There are more false bottoms to this market than in a shoplifter's bag collection.

33

Posted by guest , Aug 01, 2008 1:14AM

Cramer appeared a little embarassed tonight, but gamely declared that he wasn't going to let a 200+ drop in the Dow deter him from thinking the bottom had been reached.

34

Posted by guest , Aug 01, 2008 5:59PM

@33

Isn't tha is counter to what a "bottom"

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