Many think that complacency is a disease that only applies to bull markets, but Jim Cramer said that is not true. It is also possible to be too comfortable in negative beliefs about the market, and totally miss a market bottom.
"Complacently negative investors dismissed yesterday's ugly close as just more of the same horrible action. But opportunistic investors? The ones who sense that stocks are getting too cheap and change their view? They look like real winners, at least for the moment," the "Mad Money" host said.
On Wednesday Cramer confirmed that his charitable trust had purchased stocks in the last hour of trading because the market was so ugly and miserable, it was time to buy. The trust purchased stocks because it had set price levels a long time ago, and those levels were reached.