Of course, we have some worse earnings report than we knew we had last week. We have a further decline in the Baltic Dry Index continuing to fall at an incredible rate -- hence why the cyclicals have no traction. We have commodities continuing to plummet, all signs of a severe recession. But if you are buying now, you have to be thinking that at some point within the next year these companies will be in better shape, because the industrial economy will begin to reflect some of the money that's endlessly being pumped into the system. It is simply a better time to buy than when we hit these levels last time. Oh, and I am not going back from when I said at Dow 11,000 on Sept. 19 that you should sell 20%, or from last Monday's call that if you need the money for the next five years, you should make sales. I am simply saying that we are getting closer to where we were when we bounced, and we can't be as scared as we were last time, because the European bank plan will make the recession deep but not endless. Pick, as I am, at the stocks that are about at the panic low levels. And then wait for more panic lows. If we don't get 'em, we pass on more buys. At the time of publication, Cramer was long Chevron, Freeport-McMoRan, Goldman Sachs and Morgan Stanley.The Blue-Chip Market Is OverOriginally published on Friday, Oct. 13, at 2:43 p.m. EDT Does the market work? Is it worthwhile as a way to make money? Can it be counted on to do what it used to do, which is create wealth by investing in good companies and holding them over time?