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[Ulisses Pereira]

"Fade the Faders"

By Jim Cramer
RealMoney.com Columnist
10/29/2008 9:58 AM EDT



"Too many people want to fade the opening, so you can't fade the opening. Too many people don't believe that the last half-hour was legit, so people bet against the last half-hour, but the oils led that charge and the oil futures are up.

Too many people don't even believe in the P&G (PG - commentary - Cramer's Take) surprise, so you have to take the other side of that trade.

Basically there is too much skepticism this morning -- which doesn't mean it won't be right, but does mean that you have to wait until the skeptics reverse course and come back, which they will have to do.

The techs are signaling strength, and that too says be careful to short.

Basically you have to let the people who missed the rally from yesterday "take advantage" of the decline, you have to let the faders "stop fading," and you have to bet that the markup folks still have more powder and want to take it higher so even if Thursday and Friday are terrible -- a Helene Meisler prediction -- we do not see Monday's lows.

Once again, the only bearish thing that I see on my screen is the Goldman (GS - commentary - Cramer's Take) / Morgan Stanley (MS - commentary - Cramer's Take) complex that helped keep us down yesterday. It's back; disturbing to the bulls but "overlook-able" for those who want to take the market higher.

Complicated course of action, but very realistic.

At the time of publication, Cramer was long Procter & Gamble, Goldman Sachs and Morgan Stanley. "

(in www.realmoney.com)