Jim Cramer says "Financials Can Be Bought Now"

Where is Bob Brinker? Jim Cramer just came on TV (Noon PST, January 30, 2008) and said with today's 0.50% rate cut by the Fed after cutting 0.75% last week, Financials (Citigroup, XLF, etc.) can be bought here as the fed "gets it" and "all is forgiven." Bond Guru Bill Gross of Pimco followed and took a bow for predicting on National TV and on his web site that the Fed would cut rates to 3.0% in 2008. I can vouch for that as I saw and read Bill Gross predict the Federal Reserve Open Market Committee would need to cut rates to 3.0%. Bill gets high kudos from me as he did this without ranting and raving about Ben Bernanke like the other two did.



Has Bob Brinker said anything about the markets or sent any special buy bulletins of late? If I missed any announcements by Brinker about finding that bottom he was looking when the S&P500 was at 1325, please send me an email or post about it on our "Bob Brinker Discussion Forum" at Facebook's "Investing for the Long Term."

For Brinker's sake, I hope he didn't switch from "Lump Sum in Mid 1400's" to "Dollar Cost Average until I identify a bottom" nearly to the day the market bottomed!

Only question is why wait for Jim Cramer or Bob Brinker? I already bought financials for my newsletter and personal account. Citigroup currently at $29 yields 4.60%, more than you will get at Vanguard's money fund after they cut rates and more than many CDs will pay once banks start to lower rates. XLF at $28.64 yields 3.66%. Why wait for Brinker or Cramer to tell you how to invest?

==> High Yield CDs

See:

• Jim Cramer's Rant with Erin Burnett: "Cramer Meltdown Video"
  
• Monthly Chart & Fed Fund Rate Cut Suggests The Bottom Is In

==> High Yield CDs <==

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