Looking for some optimism in the markets?
You're not going to get it from Jim Cramer, who's still worried about the market reaction.
Watch the full video above for more.
So where can investors find optimism after a day like yesterday, where the Dow closed down 9.99%?
The only way you can find optimism is that Treasury Secretary Mnuchin told us that the money will be there to keep the system alive. The system broke very badly in October of 1987. I came in only with JNJ puts on Monday, and I wanted to sell the puts, which I could therefore make my month on, and I couldn't. It didn't work. Get in, and say, "Listen, I'd like to sell couple hundred JNJ puts." "Well, I'm sorry. We don't know where the market is." And then I go to another firm. "We don't know the market." And another firm. "We don't know the market." So I wasn't able to because we didn't know where JNJ common was. There was a moment, during the crash, where 3M was something like 30 bid, 50 offer. Caterpillar, the spread was maybe 25 points. And you didn't know where to buy, and you didn't get any confirms, and you didn't know where you were. And I was trying to rebuild and put money to work, but you really couldn't because the offer side was so high.
The system, Katherine, had totally broken down, and that's not happening now. It doesn't mean it can't go lower, but it does help to hear from the Treasury secretary that that kind of illiquidity is... They're aware of it, and they don't want it.
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