Here's that nasty last half-hour that, if it weren't for the curbs on the futures, we might have gotten close to our down-500 day. We are looking for that final washout, and the break in the futures seems to keep it from happening.
October Chill: Join the discussion on
Message Boards. Now we are getting that flight to quality in the bonds that confuses the issue. It's like a smoke bomb because we can't see our way with the bonds during so-called flight to quality. They tell us nothing because they are reacting to the plummeting stocks.
I keep highlighting the poor performance of the banks, and now it is doubly painful with the bonds ramping. Keep an eye on the
, the bank index: It just hit its low for the period and it is in some serious uncharted ground. (Glad I didn't do that
trade!) Those stocks are from hunger.
Too many people looking for that Friday closing short-covering rally. I don't think you can get it on the weekend before the anniversary of the '87 crash. So we wait patiently. Ouch, they just hit me on
Knew it was gonna be a long day. Said so myself.
Guess I am going to have to give my Dow 10,000 hat back to
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long United Technologies. 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