Mad Mail: Market Bottom or Financial Bottom?
Dear Jim: Last night you suggested that we had reached the bottom of this current decline, which was 10% earlier in the week from the all-time high reached on October 9. But I've read your first four books and in the current decline I have not noticed a capitulation of the last bulls, especially you. Your autobio "Confessions" made particular note of your capitulation in October 1998. I know it’s tough for you as I'm still bullish but maybe the market is waiting for your call. --Chris
Cramer says: I said the financials were down to where they bottomed in 1990 so it seems reasonable to think they will bottom again here. As for the rest of the market, I’m not so sure.
Dear Jim: DuPont currently licenses seeds from Monsanto , but has announced their own lines. How much business does MON do through DD, and if they stop licensing MON's tech, does this change the economics of Monsanto at all? --Darius
Cramer says: The seed business is a “benign oligopoly.” DuPoint is becoming interesting now that it’s levered more to agriculture and less to housing.
Dear Mr. Cramer: Ladies’ Night is a FABULOUS idea! I want to come! However, since I only recently discovered your show and haven’t made enough mad money to come to New York, why don’t you surprise everyone and do it by teleconference from here in Alaska? It would be the best birthday present ever!!! I’ll even toss an extra pillow and blanket on the sofa for you. --Lynn the “Valley Girl”
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