I must admit that I get a kick out of watching Jim Cramer. The flashy entertainment often makes for an amusing time while eating supper. I came across this video today from Jim Cramer talking about Europe and his statement was actually really something that is worth listening to. Some part of Europe will collapse in the next 48 hours or it won’t at all.

Naturally his opinion is peppered with entertainment and a dash of sensationalism but ultimately it could be a valid point on how the stock markets will begin to adapt to the on-going financial crisis in Europe.

Take a watch of this video and share your opinion.

Is there a specific way that you’re playing this recently pull back? Here at the Canadian Penny Stocks blog, we did a video a little while back and right now it’s bang on sitting around 11,400. There is 1 year support levels around this level so from a technical perspective it would be helpful to have this support level being held, otherwise we’re looking at 11,100 for light support or 10,650 for stronger support. MACD is still not converging or crossing over yet. Strong news will be needed to push this market higher, but it isn’t looking hopeful yet.

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