Montenegro anuncia redução de IRS nas rendas, isenção de mais-valias e aumento da dedução com rendas

[Ulisses Pereira]

"You Want a Bottom? Listen Up"

By Jim Cramer
RealMoney.com Columnist
1/15/2008 10:07 AM EST


It's time to be realistic about this market. The Fed failed to take action in time. Retail sales have fallen off a cliff. There is very little support for stocks here, other than negative sentiment. Citigroup (C - commentary - Cramer's Take - Rating) did not take enough charges and did not address the real problems even though it has the capital to do so.

We know this is classic bear market action, right up to what happened yesterday with IBM (IBM - commentary - Cramer's Take - Rating). We have way too many people trying to find a bottom. We have way too many people surging into just a couple of stocks -- Monsanto (MON - commentary - Cramer's Take), Mosaic (MOS - commentary - Cramer's Take - Rating), Bunge (BG - commentary - Cramer's Take - Rating), Agrium (AGU - commentary - Cramer's Take - Rating), Deere (DE - commentary - Cramer's Take - Rating) and Archer Daniels (ADM - commentary - Cramer's Take - Rating).

But those went parabolic yesterday, which means that even if you LOVE them, and I do, you have to ring the register, particularly because we are in a weaker oil environment. They are at it again today, so you get your chance. If you are doing my call strategy, you unload another tranche here.

I suspect that we will try to get a bottom in tech, a la yesterday, and we will try to get a bottom in health care off a weak retail number.

But you cannot get a bottom without bankruptcies, closings, mergers and a sense that the Fed realizes its error and moves with alacrity, something I have repeatedly urged you NOT to bank on with the Fed. You also cannot get a bottom until everyone agrees we are in recession. To me, it is no longer even an issue.

At the time of publication, Cramer was long Citigroup. "

(in www.realmoney.com)