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Plotting the Course

By Jim Cramer

 About this article:
 How high can we go? That's pretty much the only question worth asking after you put in a bottom, as we did after the Bear Stearns collapse. Nobody's talking about a new bull market. But let me give you some thoughts about what has happened in the past few weeks to make it so that you could become more positive. First, we went down so much because the systemic risk in the biggest part of the S&P, the financials, was overwhelming. It is why we "overcorrected" because the market feared -- and shorts pressed their bets -- that the following institutions could go under: Bear Stearns, Washington Mutual , Wachovia -- yes, Wachovia, because of the miserable buy of what turned out to be a really reckless lender, Golden West -- Lehman Brothers , Merrill Lynch , Citigroup , National City , Capital One ...

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