Contrary Cramer Buy Call ?

October 6, 2008 11:30am by Barry Ritholtz

As I have said in the past, I don’t like to harp on any one person. I also don’t want to be a Cramer stalker. But DAMN if that headline doesn’t smell like a giant buy signal.

The market down 30%, the VIX spiking to 56, and Cramer giving a panicky SELL on TV this morning. We have a 9,500 downside target, and the likelihood of an emergency action makes us want to get long — at least for a trade . . .

We are putting a toe in the water here.

Update: October 7, 2008 1:25pm

Doh! Stopped out!

Source:
Jim Cramer: Time to get out of the stock market
Michael Inbar
TODAYShow.com, October 6, 2008
http://www.msnbc.msn.com/id/27045699/

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