this was from fridays show and lets not let cramer forget it as i assure you i'll be bullish tommorrow again. he's caught this time Cramer: Donât Buy Till Dow 9,000 Published: Friday, 7 May 2010 | 6:22 PM ET Text Size By: Tom Brennan Web Editor, Mad Money The Dowâs intraday collapse of nearly 1,000 points on Thursday offered a clue into what investors truly think of this market, Cramer said during Mad Money. In short, they assumed the move was legit, and not some computer error. These people believed that Procter & Gamble [PG 60.31 -0.44 (-0.72%) ] deserved to plummet to $47 from the low $60s, that the Dowâs decline was the natural result of Europeâs debt troubles and the riots in Greece. They showed they had no confidence in the markets, no conviction at all. âAnd thatâs deadly for stocks,â Cramer said. But he was quick to point out the differences between the Europe Union and the US. While Cramer wouldnât disregard the Continentâs affect on the American markets, he did note weâre much stronger than the EU right now. Employmentâs getting better, housing is improving, and business is ticking up. So as scary as yesterdayâs intraday plunge may have been, it was not the stuff of late 2008/early 2009, when the market had a fundamental reason for being that low. That means, as bad as Europe is right now, thereâs a level at which that contagion is baked in and stocks look interesting, and Cramer thinks we saw that level yesterday: Dow 9,000. And he said he doubted it was out of the realm of possibility that we could pull back to that level. Therefore, investors should wait for the decline before they buy anything again, other than his preferred accidental high-yielders.