On TheStreet.com TV's Wall St. Confidential video Wednesday, Jim Cramer mused about some of his strategies for spotting a bottom a day after a market meltdown.
"There have been only two days in my 25-year trading career where you simply had to buy the next day, no matter what," he told Gregg Greenberg, the host of Wall St. Confidential. "We have to remember what history tells us here."
The first day was "Terrible Tuesday" during the crash of 1987, when the market was down 1,200 points. The second was in October 1997 during the "Asian contagion," Cramer said.
In the first case, the market's fall was because of a technical problem, a breakdown similar to the one the market had yesterday, Cramer said, and the second one was a recognition that Asia was not the U.S. ...
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