Jim Cramer's Mad Money Stock Recap 9/17
Fear, not facts or fundamentals, is what's driving this market, Jim Cramer told viewers. He warned that while the selling might not be over, investors will miss some opportunities of a lifetime if they stay too negative. The fear in the markets today reminded Cramer of the great market crashes on 1987 and 1990. However, citing President Franklin Delano Roosevelt, he told viewers that the only thing they need to fear, is fear itself. He said that while everyone is worried about the system and have no confidence in the system, ultimately the system will emerge again. In times like these, said Cramer, it's wise to return to the fundamentals and look for solid companies with good long-term outlooks. We are not a bankrupt country with bankrupt companies, he said. Keep your powder dry and wait for the opportunities to emerge. Cramer reminded viewers that after the crash of 1987, every stock on the most active list before the crash was higher a year later. He said that today is likely not the bottom for this market, but there will be a time to buy again soon. Don't stay negative forever, he said.
American International Group (AIG)
We are better off today than we were yesterday, Cramer told viewers. Despite the market's huge sell off, he took a moment to talk about what went right today. Cramer said that the surprise bailout of American International Group is big news for the markets. Yesterday, he said, we were worried AIG was going under. Today, we know it's going to be OK. Yesterday, we were worried about other banks failing as a result of AIG. Today, another one of the market's black holes has been filled and we don't have to worry as much. Now that the danger of AIG's failure is off the table, we don't have to worry about the mortgage insurance policies the company held. Cramer also said the SEC's announcement of new rules against relentless short selling is big news for the markets. He credited Chairman Christopher Cox with making a good first step to undo the damage caused by short selling and urged the Chariman to go one step further and reinstate the uptick rule, which requires a stock to tick up in price before it is sold short.
Published By SeekingAlpha
American International Group (AIG)
We are better off today than we were yesterday, Cramer told viewers. Despite the market's huge sell off, he took a moment to talk about what went right today. Cramer said that the surprise bailout of American International Group is big news for the markets. Yesterday, he said, we were worried AIG was going under. Today, we know it's going to be OK. Yesterday, we were worried about other banks failing as a result of AIG. Today, another one of the market's black holes has been filled and we don't have to worry as much. Now that the danger of AIG's failure is off the table, we don't have to worry about the mortgage insurance policies the company held. Cramer also said the SEC's announcement of new rules against relentless short selling is big news for the markets. He credited Chairman Christopher Cox with making a good first step to undo the damage caused by short selling and urged the Chariman to go one step further and reinstate the uptick rule, which requires a stock to tick up in price before it is sold short.
Published By SeekingAlpha
Labels: AIG, American International Group Inc., Jim Cramer, Mad Money, Mad MOney Recap
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