Jim Cramer-

Just passing some time and watched like 20 minutes of the knucklehead.
He said what I have been saying for awhile here that the financials are in serious trouble and some may go under. Geez Jim you so smart I thought he said buy Citibank @$23 geez what a play total idiot.
I personally like to play against those in the press like Jim because more than often they are WRONG. I do believe the financials are dead but I will say it here that I think they will bounce in here, yes I wouldn't be short here. Personally I would love for the SKF to come back in the $125-128 range to get long again and for stuff like MER to see $40 to set up a sweet short again.
IF and I say IF, since we are way oversold the Russell could see over 720 again as it has been showing relative strength to the S&P. The S&P could see 1365 and the DOW somewhere in the 11900-12200 area. I wil run these numbers later and give exact numbers to watch IF we do bounce.
Don't be tricked into investing as we are in a BEAR market and these bounces must be shorted or sold into if you are long, nothing more. I know the talking heads will come on when we bounce and are about 500 point higher that we successfully tested a double bottom and crap but dont believe it. For now we will play it close to the vest and play the bounce in this earnings season.
I think we crash and burn in the August-October time frame but we will see soon enough