Jim Cramer, on his Mad Money TV show on CNBC announced that he thinks the stock market has hit the bottom and will not return to the lows seen on July 15. Cramer said that investors should buy on the next big dip as he thinks a huge upside is near. One of the reasons for him saying this is that negativity is so high that the market might have reached a point of total capitulation. Another main cause to the fact that the market may be headed for better days is the recent bill that President Bush signed that will allow banks to sell bad mortgages for $0.80 on the dollar to the Federal Housing Authority. As Cramer put it, “Bye, bye bear market.”

