Jim Cramer’s show today had alot of straight forward comments about the current downtrend in the market. He commented a few times how we cannot rely on intraday rallies right now though they do exist. He then went into how to look for rally’s in the stock market which could signal a turn overall.

1. Jim tells us investors to look for an oversold market. He says to use an oscillator which measures the pressures of sellers and buyers on the market. Simply put, an oversold market is a sign of bottoming out.
2. Jim tells us that the more bears that are out the better, because that typically means people have gotten out of the market. So during these troubled times, the less bulls the better.
3. When rallies begin to occur late in the day, then that is a positive sign. Jim tells us that the earlier rallies tend to not last and rallies that being around 2:45 PM are good ones.

As for the stocks portion of today’s Mad Money episode, Jim mentioned a few

including Allergan (AGN) which makes botox and owns Juvederm (a wrinkle smoother) that just got FDA approval, Cutera (CUTR), and Palomar Medical Technologies (PMTI) who recently just felt the better end of a lawsuit settlement. Watch all three of these stocks closely tomorrow as they should have a nice day.

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