Leave it to the Dow Jones Average to misrepresent this day completely and entirely. I am sure there are news stations out there that would report today as a positive day.
Think about it:
were up, as were
. Same with
! Heck, there was a time when I would have said, "Sounds like a good one!"
In truth, it was a miserable day, one of the worst in a string of disgusting and horrid days that have brought the
back down 10% for the year. The grinding nature of this market is palpable. It's putting whole sections of the four-letter tree into the chipper, with all of the relevant consequences.
We did the least we have done all year today. There just isn't much to do and we aren't about to force it.
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