These bulls will try to get Apple up eight or nine points, Cramer said, hoping to send a signal to potential Nasdaq investors that the market’s bottomed.
Cramer endorsed the move, but he urged viewers to wait until at least 3:15-3:30 p.m. ET before buying, if they do.
“That’s when the firepower tends to be exhausted by the bulls who are trying to prop the market up,” Cramer said.
Cramer called the prop up of Bank of America “very encouraging” because it’s taking such an incredible amount of money to keep that stock trading higher.
General Electricreported in-line earnings today, but the stock is up just pennies today. Cramer said the next step for the company is to “take advantage of the carnage” and buy some badly hurt infrastructure firms or appeal to the FDIC to let GE take on deposits.
Cramer’s focus today is on the credit markets rather than equities, he said, because equities are just a “thumbnail” in comparison.
Jim's charitable trust owns General Electric.
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