Cramer's Stop Trading! Prepare for Mass Panic (8/26/10)

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Includes: DIA, QQQ, SPY
by: Miriam Metzinger

Summary of Jim Cramer's Stop Trading! TV Segment, Thursday August 26.

Given the general doom and gloom reaction to recent economic data, it is reasonable to expect more melodrama following the GDP numbers on Friday: “I’m predicting mass panic tomorrow morning,” Cramer said, “market looking down 15 ticks.”

The jobless reports were expected to be much worse than they were, and yet, the market still reacted as if the results terrible. Cramer thinks the GDP number will be 0.5%, but he still expects panic if the number is around that level or even slightly better.

“It’s very clear that we’re going to have no growth,” Cramer said. “Why is that shocking?”

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