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Jim Cramer Wonders if Correction is Over
Posted: 08/19/09
By: tomgrisafi
CNBC claims that Jim Cramer was right about the most recent sell-off.
He said it would be shallow, and it was. Note the Dow’s 83-point rally on Tuesday after a brief 3% dip as vindication of his call.
The bears must be stunned and confused.
Just yesterday they could have pointed to what seemed like a long list of negatives for the market: a weakened consumer, no back-to-school season for retailers, tech’s stalling out, China’s disappearance, credit-card defaults, cash for clunkers cannibalizing what little money people had to spend on other items and cars in the future, and President Obama’s plans to “socialize” medicine.
Is Jim Cramer right? Is the correction over?
Please leave your thoughts below.
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