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We are doing everything we can as a nation to take 1929-1932 off the table. There is

no reason whatsoever

for a bank run now. There is less reason to believe that we are going to have 20% to 30% unemployment.

Again, I believe you


be doing some buying here -- something -- as I have been picking for

Action Alerts PLUS


The key issue is the velocity of the decline and whether we can get to where we have to go.


the revision on my Dow 8400 call

, I think that, technically, we HIT MY LEVELS at the opening.

The tug of war here is "no bottom on Fridays" vs. hitting my targets, which are an amalgam of a bottom-up analysis and a 1987 analogue to closing prices of Black Monday.

Terrible Tuesday intraday puts us under 6000. That may be too strong a decline, so what I would do is begin go buy something back right here, but you must leave room for a big gap down on Monday to do more buying.

We have also hit my downside oil target of $80.

So what to buy? High-yielding major oils, food and beverage soft goods with good yields, and






, which work in this environment.

At the time of publication, Cramer was long Wal-Mart.

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