THE RARE MOMENT

Jimmy Cramer just live on TV telling how jokers call him a serial bottom caller and he called the bottom on July 15- well lets go to the videotape- well not xactly vido but archives from realmoney.com -July 16 hat tip to the options fellow:

Can the financials hold on? I think that's too hard, of course. I do believe that they just need to go up for a couple of days so the companies have the ability to raise cash, that's the real issue.

Many of the banks that are rallying need cash. They should be canvassing private equity to find buyers to see if someone thinks the move is for real. Some should be issuing stock right here.
Still others should use the strength to make calls to save themselves and get buyers for themselves.

This is one of those moments where the shorts are on the run. That's when these companies need to play some defense and get some buyers in.

If they don't, it will be one more lost opportunity, because with Wells Fargo (WFC) you just saw the best quarter you are going to see from these banks.

One other thought for those who are short: Bank of America (BAC) will declare its dividend, and that will cause more short panicking, because it is really big.

The SEC's rules plus the short squeezes are an opportunity to recapitalize right now. The banks should take it.

Random musings: So everyone thinks the oil stocks and oil is over? I say we have seen this movie before, and the stocks have come down enough to be buys. ... I still have trouble buying tech here and just don't feel certain about any but a handful of them.

Hard to believe that he talks about nailing the call- well I guess its all in the eye of the beholder.