Stop Trading!
Jim Cramer's 'Stop Trading!': The Bright Side
TheStreet.com Staff
09/17/08 - 03:39 PM EDT
"This is really a Franklin Delano Roosevelt moment," Jim Cramer said on Wednesday's "Stop Trading!" segment on CNBC. "We're only fearing fear itself."
He encouraged viewers to consider several potential factors that could be positive influences on the market, including the coordination of worldwide interest cuts, huge Chinese stimulus plans, a waiving of the private equity rules and the SEC's waving of rules on buybacks.
"I am only trying to bring out things that could go right, because I've heard all day what could go wrong," he said.
Cramer, who owns Goldman Sachs(GS Quote) and Morgan Stanley(MS Quote) for his Action Alerts PLUS charitable trust, stood behind the two financial companies. "I tell you that September calls on these positions will be rewarded for very little capital," he said.