Bulls Take a Stand - Cramer's Stop Trading! (10/10/08)

Includes: AAPL, BAC, C, GE, NYX
by: Joan Wickham

Recap of Jim Cramer's comments on Stop Trading! Tuesday October 10.

Bulls Make a Stand - Citigroup (NYSE:C), NYSE (NYSE:NYX), Bank of America (NYSE:BAC), Apple (NASDAQ:AAPL), General Electric (NYSE:GE)

"The bulls are making a very big stand," Jim Cramer said. He said money is flowing into stocks such as Citigroup, NYSE, Bank of America and Apple. The bulls are making a "concentrated effort" to prop up these stocks. They are keying in on Apple, he said, hoping to boost it up by $8 or $9. "The bulls want to take Apple up so bad, it's funny. I mean, look at it. Should anyone really be thinking about it? No!" Cramer recommended that if investors are thinking about buying Apple, they wait till 3:15 or 3:30 p.m. "That's when the fire power exhausts from bulls trying to keep the market up," he 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 Electric, CNBC's parent company, reported third-quarter earnings on Friday morning. "I think it's important to recognize that the General Electric quarter was exactly in line," said Cramer, who owns General Electric both personally and in his charitable trust. But he's more concerned about the credit markets. "The equity market is just a thumbnail compared with the credit markets," he said. "It's kind of like the Western world of finance is on the line here," Cramer said. "If I had the power, I would move the market up right now."

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