Cramer's 'Mad Money' Recap: Sept. 4
09/04/08 - 07:48 PM EDT
Scott Rutt
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"Behind all of the losses and ugliness in the market, there is something positive," Jim Cramer told viewers of his "Mad Money" TV show Thursday. While a bull market may seem like a needle in the haystack, it's out there, he said. Cramer reiterated his belief that the markets will not fall below the lows set on July 15 and that a bottom is forming thanks to lower oil and natural gas prices. He listed six reasons why he feels investors should see the light at the end of the tunnel. A bottom is forming in the housing stocks, signaling a bottom in the housing market that he says is coming in 300 days. The Federal Deposit Insurance Corp. has announced a plan to fix ailing banks, allowing stronger entities to buy good assets while the government assumes the bad loans. Both presidential candidates are likely to lower individual tax rates, which will help spark consumer spending. Commodity prices have crashed across the board, helping to lower the raw costs for every company that uses commodities. The price of gasoline is coming down even lower than Cramer first expected. "This is almost a tax cut in and of itself," he said.
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