The Cramer Bottom
Jim Cramer is telling investors to get out of the stock market.
My guess, the stock market will be now bottoming sooner, rather than later.
Monday, October 6, 2008
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3 comments:
Anyone in the RO close to breaking $1 mil today DT?
The RO is up, but nothing crazy. In fact, people are giving back from their highs.
Trader D was up over $100gs, now up $80gs. No one else close.
Close should be crazy though.
-DT
Certainly looks like a short term bottom. Lots of volume, some dojis--and possible morning stars if tomorrow is an up day--formed. Lots of gaps down. And the VIX was amazingly high, not to mention the NYSE Bullish Percent Index dropped to 10.97%, which hasn't been seen since I don't know when (I don't have a free chart that goes back past 2000); it definitely dropped below the January lows. Stocks above their 50 and 150 fell very, very low. They are near or at the 2002/03 lows (again I have a cheapy free chart that only goes back to 2000). All of this signals a possible up turn.
But who knows, it could continue to go to shit too.
Good luck. Hope you did well today.
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