After a brutal meltdown in the stock market Thursday, are we finally nearing a bottom? Jim Cramer told his Mad Money viewers that the only way to know for sure is to consult his “market bottom checklist, which he last revisited on Jan. 6. Back then, Cramer saw only two items on his checklist that signaled a bottom was getting closer.

After Thursday’s selloff, is there a large amount of negativity among investors? Yes. Are the big institutional investors getting clobbered? You bet. Is sidelined money ready to be invested once the bottom is at hand? Yep.

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