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CNBC captured a great moment during today’s market crash and bounce. As host Erin Burnett tries to explain the fast-moving market, professional crazyman Jim Cramer points at the screen and gestures in disgust: “That is not a real price. Just go buy Procter & Gamble. When I looked at it, it was at 61, I’m not that interested in it. It’s at 47? Well, that’s a different security entirely.”
Seconds later, P&G has bounced back seven points. Cramer updates his advice in real-time: “What I’m saying is, you put in a $49 bid for 200 shares of Procter. If you get hit, fine. This is very much 1987-like. A little different from 2007-like,” by which he means that he sees a fast bounce from which quick, safe traders can profit right now.
Burnett snaps back, “When we saw the Procter, you said, ‘buy it,’ and somebody did,” by which she means she thinks viewers may have bought P&G at a newer, higher price instead of the $49 low at which Cramer had gesticulated.
Watch Burnett and Cramer banter as the market shifts on them in mid-sentence.