The Futures Take Everything Down at First By Jim Cramer About this article: The order of things is important. In 1990, everything initially went down, and then when the smoke cleared, you began to get a ramp in the Colgates and the Amgens and the Kimberly-Clarks after the initial shock. There are so many people who are looking at their screens and saying, "How come these stocks are going down?" The answer is that the futures take everything down initially. And then these stocks rebound and the others don't. The fall-apart today, totally linked to American Home Mortgage, is so violent that nothing can withstand it. We are not going to put in a bottom until every mortgage company save Countrywide Financial goes under, and some major homebuilders and hedge funds go under and the brokers' earnings are crushed. The hedge funds that are liquidating are killing pretty much everything they own. That's also what we saw today. And remember, the Fed... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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