http://maddmoney.blogspot.com/2005/10/cramer-calls-bottom.html Cramer Calls A Bottom People feel bad enough about stocks that they're safe to buy, Jim Cramer told viewers on CNBC's "Mad Money" program Friday night. "Things have to get really bad, people have to be psychotically negative, before things can start to get good," Cramer said. Cramer was bullish on Procter & Gamble (PG), Microsoft (MSFT), Motorola (MOT), and Ingersoll-Rand (IR) as play for a bounc off the current market weakness. Cramer also likes Pike Electric (PEC), and he thinks it's a steal at these prices. Indications market sentiment has bottomed include a 45% bull reading in a recent investor sentiment poll and a report showing retail traders have roughly four times as many short sales on as professional specialists. "There aren't a lot of bulls left to convert into bears," Cramer said. "There are more bears than the market can handle. You have to shoot them when that happens." Cramer said the current market isn't one of his "exquisite moment" opportunities where investors should expect huge upsid. "I'm not saying it's going to go up a thousand points," he said. "But you gotta buy." Even oil stocks, which "every joker and his brother own," could get caught up in the cominggains, Cramer said. "I think the stocks lag, but because I believe in a larger bull market thesis, we buy into the lift this time." I love 100% up room to go$$ gap down? whats a gap down?
Pike Electric? It's been public all of (3) months and in that "short" span, two insiders each sold $70 million at $14 of a stock that's now at $18. Cramer's a shill
If this follows the typical Cramer pattern, this market will be one hell of a great short sale in about 3 days, once the "relief rally" runs its course (ie better than this "buy" call). The bottoming action last week was FAR from any kind of selling climax. I think we will get an end-of-year rally, but it would be a lot more long-lasting and powerful coming from DJIA 10,000 or below. This looks a lot like short covering currently.....
========= Do NOt think some airlines have made a bottom at all; but looks like SPY, most tek stocks have. And tek socks uptrend in 4th quarter are some of the strongest uptrends there are; and OCT tends to be a bear killer, not a bear, but a bear killer
how do I know that cramer really is being quoted here ? I read this on the bottom of that link -Disclaimer: This blog has no affiliation with Jim Cramer, CNBC, or Mad Money-
Seth, I've checked that blog a number of times and it's always direct quotes from the Mad Money show. The guy who writes it must be the biggest Cramerholic ever.