It's Awful, So It's Time to Buy

Cramer's sticking by his plan in the face of the worst market he's ever seen.
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It's the worst I have ever seen it. So we have to buy it. We are sticking by our plan. We just put $25 million to work because we have to. We don't expect to be up on any of it, but we know we have to commit.

This is '87 like and I didn't act fast and hard enough. It seems 1998 October-like, with another chance, this time to get it right. To get it long.

We have to buy because it hurts like a red hot rusty poker through our underbellies. It hurts like it has only hurt a few times. I have friends who have rumored to be in trouble. As I am an investor with them and privy I find it humorous and sad at the same time. It just seems right. It's as bad as it gets, folks. It just seems right.

So often on Fridays people don't want to buy because they remember that dreaded Friday before Monday when it was so bad in October 1987. To me it seems more like that Monday than that Friday. And the timing,

a la

the Trading Goddess, is very right. She was right again. The best prices came late at the end of the day.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at

jjcletters@thestreet.com.