Just heard Cramer call this a bottom... Haha I laughed out loud when he said this. Just last week, he said this was a bear market on his show and now he is back in his bullish mood. He has lost all credibility.
What Cramer meant to say was that this was a 3 week bear market and now we've hit the bottom. Bulls in control now. shortest bear market on record.
By one common definition, a bear market is marked by a price decline of 20% or more in a key stock market index from a recent peak over a 12-month period. http://en.wikipedia.org/wiki/Bear_market
LOL! And sadly, people still watch him, and actually do what he says. I've picked up clients pretty easily once I found out who their "Advisor" was. I have a client in her late 60's with 700m who was following the Cramer "strategies" on MARGIN. OUCH!:eek: She did 6.7% in 2006 with the "booyah" strategy. Last, I like Rick Santelli when he gets pissed off. He's not one to get into a verbal spat with. Him and Steve Leesman (sp?) get into it now and then. I turn up the volume, and we get a quick laugh out of it in the office.