Jim Cramer just threw in the towel.

[randomness]

It might be time to buy. :)

From http://gawker.com/5059535/jim-cramer-begs-america-to-abandon-hope:

Whoa, Jim Cramer has fully turned around as much as a man can possibly turn around! The shouty CNBC (poor) stock picker—who as recently as last November was trumpeting "10 Reasons to Be Bullish" ("1. The stock market is cheap")—went on the Today show this morning to virtually beg Americans to pull all the money they might need in the next five years out of the stock market, no matter what the cost. He looks like he's about to cry. This will be one of the defining moments in the media narrative of our nation's impending financial doom.

Comments

[n5red.livejournal.com]

I have a few buy orders in. Things will have to drop significantly further before they trigger. It will be interesting.

[cerridwynn.livejournal.com]

So i've been meaning to do something with the money my grandma left me for about 1 1/2 years now (it's been sitting in a cd and is now in a money market...)

It seems like, at least in the short term, my procrastination/cluelessness has paid off.

I still need to figure out what to do with it but i still have no idea.

[babasyzygy.livejournal.com]

Yeah. Cramer has a history of admitting (not exactly explicitly, but he spells it out bit by bit, basically ending up just short of what would get him busted - he even talks about the SEC limits before prosecution) that he uses his audience to manipulate stock prices.

[drwex]

Fascinating.