So Cramer’s been bashing Obama all-week (pretty fun to watch). The guy even voted for Obama, but is now castigating our new president as the greatest wealth destroyer in mankind.

Cramer is a very smart guy. There’s a bunch of people who knock him around the web. You have to remember he’s a TV personality and that he has to avoid saying anything that is too non-PC or give super direct advice, else his audience might over-react and not take into account their own financial situation.

He was very clear about taking 25% off the table before the October drop and even selling it all at Dow 10,000 if you needed the cash in the next five years. As of now, he remains fairly bearish long-term though he seems to think some sort of bounce is inevitable.

He recently said he thought the most bearish case scenario (which might also seem likely) has us at Dow 5300. I could see us dropping down to Dow 5500 and then having a sharp bounce back…perhaps all the way up to Dow 7500-8000 before dropping down to the 4000’s.