This post appeared earlier today on RealMoney. Click here for a free trial, and enjoy incisive commentary all day, every day.

Is the fix in? Do we have a bottom lurking -- a la Doug Kass' statements? I know that to get back to


7350 -- the intraday low -- will take some real work, but

Du Pont

(DD) - Get Report



(MRK) - Get Report



(T) - Get Report

are doing their best to create it!.

Image placeholder title

When I say "the fix," I mean that there are enough buyers out there without redemptions -- as opposed to Legg Mason's Bill Miller, who reminds me of some of the tech managers who never recovered after 1999 -- who are going to do their best to prop up prices.

Can it be done?

I think so.

But that's because of the makeup of the Dow.

var config = new Array(); config<BRACKET>"videoId"</BRACKET> = 3908038001; config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player"; config<BRACKET>"autoStart"</BRACKET> = false; config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF"; config<BRACKET>"useOverlayMenu"</BRACKET> = "false"; config<BRACKET>"width"</BRACKET> = 265; config<BRACKET>"height"</BRACKET> = 255; config<BRACKET>"playerId"</BRACKET> = 1243645856; createExperience(config, 8);

Consider that


(MCD) - Get Report



(KO) - Get Report


Procter & Gamble

(PG) - Get Report


Johnson & Johnson

(JNJ) - Get Report




all benefit from this new commodity environment. AT&T and


(VZ) - Get Report

have scale benefits that made their lows of $20 and $23 seem like gifts. Same with


(WMT) - Get Report

, which you see today. It is tough to take

Home Depot

(HD) - Get Report

back to $17 given its high yield and the refinance activity.


(PFE) - Get Report

and Merck are quandaries. Their wounds and declines are self-inflicted. I don't think they can go much lower, because their dividends are safe and can make their lows unbreachable now that bonds are so low in interest.


(MSFT) - Get Report

can go back to $17, no problem -- that was the low.


(INTC) - Get Report

got dividend protection.


(HPQ) - Get Report

is doing well but it's still vulnerable, although it is hard to believe it can go to its low of $28 given that it just surprised to the upside.


(CVX) - Get Report



(XOM) - Get Report

are extremely vulnerable with the decline in oil because they keep rallying. They have been totally immune to the decline, which is what makes me feel that oil will rise eventually. Right now they can get smacked, but I go back to "the fix is in," as these stocks have simply stopped trading with the rest of the oils.

General Electric

(GE) - Get Report

just reiterated its projections -- first time for that, so I think that it will be hard for that one to take out its lows.

The banks are a question mark in terms of their lows, as systemic risk is off the table, so I don't think that


(JPM) - Get Report



(C) - Get Report


Bank of America

(BAC) - Get Report

have a ton of downside, as they might have before TARP and all of the federal moves to help them. Same with

American Express

(AXP) - Get Report

, although it's more vulnerable because it is poorly run.

Which leaves the swing votes:


(CAT) - Get Report


United Tech



(IBM) - Get Report



(DIS) - Get Report



(MMM) - Get Report



(BA) - Get Report



(AA) - Get Report



(GM) - Get Report

and Du Pont. The last four are in real trouble, as we know from Du Pont's forecast, GM's potential equity wipeout and Alcoa's potential dividend cut. They are the weakest and could take out their lows. Boeing's got nothing going for it because of the strike. I suspect

all of them

will take out their lows.

But they don't have a lot of points to them!

That means CAT, UTX, IBM, MMM and DIS pretty much determine how much lower we can go, and I don't see any of them being able to take us back to Dow 7350.

So is the fix in to not break the lows? Given this bottom-up look, it would be very hard to drop more than 1,000 points. Very hard, especially given the newfound view from many people that "the bad news is in."

We all feel it, the better "tone." I don't like to bet on tone. But I feel it, too.

We had terrible tone at Dow 7350. It can always return, but we see how MOST components are at least slightly better off than the last go-round.

That matters.

So I would say, yes, the fix is in.

At the time of publication, Cramer was long Chevron, GE, Hewlett-Packard, Johnson & Johnson, JPMorgan, Kraft, McDonald's and Wal-Mart.

Jim Cramer is co-founder and chairman of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. To order Cramer's newest book -- "Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer),"

click here. Click

here to order "Mad Money: Watch TV, Get Rich," click

here to order "Real Money: Sane Investing in an Insane World," click

here to get "You Got Screwed!" and click

here for Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he appreciates your feedback and invites you to send comments by

clicking here. has a revenue-sharing relationship with under which it receives a portion of the revenue from purchases by customers directed there from