8/15/2007 - MARKET MELTDOWN

Jim Cramer is popular for his over-caffeinated performances on his show "Mad Money". He bites the heads of his rubber toys and he used to begin his Lightning Round segments by throwing his chair. In the past couple of years, he's been pretty bullish on the stock market. More often than not, he's pushed the "BUY, BUY, BUY" button on his sound board than the "SELL, SELL SELL" button. That's why when he came out on August 3rd with the proclamation that "we have Armageddon", it really surprised me... even though not much surprises me these days.

And looking at how the market is performing, he may not be too far off. Losing more than 1000 points in the Dow Jones in less than a month is proof enough that Cramer knows what he's talking about. Of course, it could be argued that Cramer has a great influence on the markets that any bearish comments made by him would make his prophecy self-fulfilling. One thing's for sure... even though he may be bearish now, he's still the wild and crazy guy he was when he was bullish:



Poor Erin Burnett... she must feel like a mouse trying to stop a freight train.