He said it!
At the beginning of Mad Money, Cramer expressed bewilderment at today’s selloff and said it was already time to buy banks again. At worst, he says, the market has another 3%-5% to fall.
So there you go. The Oracle speaketh.
Here’s some of the transcript from the show:
You start putting your money back to work right into the weakness but you can’t do it until you see the whites of their eyes and i think that we either saw them today or we came very close. where are whites of their ice possibly? 3% lower and a whole not less. we definitely saw the whites in today a number of groups and in some cases we got to (garbled)… And the banks to be bought tomorrow.