Jim Cramer Says Market Has Bottomed

By on August 2, 2008

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On July 30th, with the Dow standing at 11,583, Jim Cramer said the market will not revisit the “panic” lows of July 15, 2008. To back up his opinion, Cramer cited the Investors Intelligence numbers of 50% bears and 30% bulls as proof of the extreme negativity in sentiment. Since oil has declined in price, Cramer said the upside in earnings surprises for companies that use oil could be monumental.

Source:
http://www.cnbc.com/id/15840232?video=808402313&play=1

Caveat:

On January 30, 2008 with the Dow at 12,442, Cramer stated, “The fed has given you a once in a decade opportunity to make big money right now..frankly, in stocks, and in 6 months, in homes”
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