This column was originally published on RealMoney on Oct. 19 at 1:57 p.m. EDT. It's being republished as a bonus for TheStreet.com readers.

The damage to this market by this October is quite extraordinary. I don't think people realize that this selloff has been of almost Latin American proportions, to use a reference to the old days. Much of it has been masked by the averages, but it is very hard, ex oil, to find anything that hasn't been pretty much taken out and shot here.

For example, we may sneer at Bristol-Myers ( BMY) and Pfizer ( PFE) as growth stories, but have you seen where they have gone? Have you checked out the carnage in some of these retail names? Anything auto needs a microscope to be found. Kodak ( EK), Xerox ( XRX), Unisys ( UIS), you know these were major companies once.

Or how about the casino stocks? Have you seen them lately? Without so much as a major shortfall, they have been destroyed. Teen retail, large box retail, specialty retail, they are hideous.

Meanwhile, stuff like Zimmer ( ZMH), which seems to go down every day, now is going down in giant gobs. Liquor stocks have vanished before my very eyes. Chemicals and wood products are trading at levels that are just nutty.

Which brings me back to sentiment. Monday an old friend and totally recognizable name on Wall Street showed me a proprietary survey that showed bearishness at six-year high levels.

Isn't it something that we have that level now, now that the horses are out of the barn?

Now, I know there are still some stocks that haven't been crushed: Whole Foods ( WFMI), Google ( GOOG), Procter ( PG), Goldman ( GS). And the oils are still up nicely for the year, although you have to admit for a year that oil has gone up 50% it would be right to presume that Exxon ( XOM) would be up more than 8% for the year, but that's all it is.

I am just reminding people that when you have Guernica-like carnage, you tend not to get more Guernica-like carnage, unless it is 1987. Perhaps it is fitting that 18 years ago today we defeated that logic by having the worst one-day selloff ever, after we had had the worst week ever the previous week.

I just don't believe that we are going to get a repeat of that, not when most of the problem is either man-made -- the loudmouth Fed -- or becoming less of a problem -- the decline in oil.

Again, apologies for being sane. Let the bad times roll!

P.S. from TheStreet.com Editor-in-Chief, Dave Morrow:
It's always been my opinion that it pays to have more -- not fewer -- expert market views and analyses when you're making investing or trading decisions. That's why I recommend you take advantage of our free trial offer to TheStreet.com RealMoney premium Web site, where you'll get in-depth commentary and money-making strategies from over 50 Wall Street pros, including Jim Cramer. Take my advice -- try it now.
At the time of publication, Cramer was long Procter & Gamble.

James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, 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 ActionAlertsPLUS. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." Cramer appreciates your feedback and invites you to send him an email by clicking here.

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