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!
Jim Cramer: Time to get out of the stock market
TODAYShow.com, October 6, 2008
Click here for video