This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cramer's 'Mad Money' Recap: Europe's Problems Difficult but Can Be Solved

"Everyone is supposed to win with an IPO," Cramer reminded viewers. And while everything about the Facebook IPO may have been legal, it was most certainly horrible for all involved. The deal favored the sellers over the buyers, said Cramer, and there's no denying this was a botched deal from the start.

So while Facebook and Morgan Stanley had the perfect opportunity to lure individual invests back to the stock market, they instead choose to be greedy. "Shame on them," Cramer concluded.

Off the Charts

In the "Off The Charts" segment, Cramer went head to head with colleague Tim Collins over the future direction of the markets.

Starting with a daily chart of the Standard & Poor's 500, Collins noted that over the past two months the S&P has displayed a rounded top and the dreaded cup-and-handle pattern, a bearish sign seen before declines in both 2007 and again in 2008. Based on last trends, Collins said the averages could decline 11% from current levels. But there is hope, as the S&P has been holding a floor of support, signaling that a decline can be avoided.

Using a 10-minute candlestick chart, Collins demonstrated how much of a battleground the S&P has become, with the index oscillating between its floor of support of 1,264 and a ceiling of resistance at 1,280. Today's rally bought the markets some breathing room, Collins concluded, but we're not out of the woods yet.

While the stochastics indicate the S&P is currently oversold -- having fallen too far, too fast -- Cramer warned that this alone is not a positive enough indicator to warrant any short-term buying.

Cramer's bottom line: There is still hope for the markets if they can hold current levels. If they fall much further, however, all bets are off as it will be a lot harder to claw our way back to breakeven.

Lightning Round

Here's what Cramer had to say about callers' stocks during the "Lightning Round":

Cree (CREE): "No, no, I want you out of that stock by tomorrow morning."

Fluor (FLR): "I like Fluor every much but I'm going to urge you to don't buy it right now."
2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CAT $74.68 -2.20%
SGEN $33.73 -3.60%
AAPL $94.25 -0.98%
FB $118.18 0.64%
GOOG $699.19 0.99%


Chart of I:DJI
DOW 17,667.90 -83.01 -0.47%
S&P 500 2,051.99 -11.38 -0.55%
NASDAQ 4,731.53 -31.6940 -0.67%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs