Jim Cramer on CNBC:
This sell off has been manipulated by "Bozo Hedge Funds."
Its caused by Hedge fund redemptions.
Hedge funds are manipulating the markets down; Jim could "scare the S&P down 2%"
JJC: Don’t be scared, start buying stocks right here. The hard landing scenario is a scare case by the Bears. Market is over reacting to the economic news, nback up the truck and start buying now.
He does admit the economy is slowing down, and he also likes Health Care (a classic defensive sector).