Cramer's 'Mad Money' Recap: March 10

This article was originally published March 10.

Click here for an archive of Jim Cramer's Mad Money recaps.


Jim Cramer told the viewers of his "Mad Money" TV Show Tuesday that he knows all of the ingredients that made up today's big market move. Not only that, he said, the move isn't over yet!

Cramer said the ingredients for today's huge market move were simple. First, he said, start with a gallon of bears.

He said the rally started cooking when noted forecaster Nouriel Roubini predicted a Dow 5,000, while banking analyst Meredith Whitney signaled even more trouble to come at the financials, both on the same day.

"This is what happens at the bottom," said Cramer. The sentiment gets so bad that people get carried away. Then add Moody's "Deathwatch List" and you can almost smell the rally cooking.

Next, Cramer said the markets needed a few sprinkles of positive news, like Rep. Barney Frank (D., Mass) stating that the uptick rule could be reinstated in a month and make the markets safe for capitalism.

Finally, Cramer said the markets needed three big bits of positive news. First, Texas Instruments ( TXN) said it sees improvements in 3G cell phone inventories. Second, oil appears to be stuck in the $40s and not headed into the $30s. And third, Fed Chairman Ben Bernanke said he favors lightening the mark-to-market rules that have been crippling the banks.

With all of these ingredients in place, Cramer said the markets couldn't help but rally. Cramer's on record saying that he'd change his mind on the markets when the facts change, he said they have.

"This is one fantastic rally," he said, "that's not over yet."

If you liked this article you might like

Value Stocks, Biotechs & Covered Calls

Value Stocks, Biotechs & Covered Calls

Five Spot: Legg Mason Bets on Renewables

Five Spot: Legg Mason Bets on Renewables

'Mad Money Lightning Round': Go With Visa

'Mad Money Lightning Round': Go With Visa

'Fast Money' Recap: Market Drifts Sideways

'Fast Money' Recap: Market Drifts Sideways

Top Three Nuclear Stock Plays

Top Three Nuclear Stock Plays