Cramer: I Was Too Bullish
The following post appeared at 5:25 a.m. EDT on RealMoney. Sign up for a free trial of RealMoney, and enjoy incisive commentary all day, every day.
In the end, I was too bullish. I didn't think things would get so bad that they would sell what they could sell because they couldn't sell anything else. And that's what happened to the soft-goods components of the Dow Jones Industrial Average.
If you remember my Dow 8400 crash scenario last month I put drastic but realistic price tags on a host of companies - including zero for General Motors(GM Quote) (prescient, I guess). But I did not think that Johnson & Johnson(JNJ Quote), Coca-Cola(KO Quote), Procter & Gamble(PG Quote), and Kraft Goods (KFT Quote) could be so easily annihilated.
My bad. ...
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