Not all days are winners in the market.

And knowing how to handle the down days is key.

We have to cover good and bad days here on Mad Money.

And there are lessons in the really bad days that can help.

So let's set the stage.

Back in October of 2007, the Dow peaked in a little more than 14,000

after the Fed had raised rates over and over and over again 17 times. And the economy, after

cheering for just a bit, felt the cliff, took the stock worker with it. It's one of those things

that you could have seen coming if you paid attention. Specifically, if you had paid attention

to me back on August 3rd of 2007,

when I excoriated the Fed for having raised rates so much,

oblivious to the damage it was doing to the real economy.

I thought that it was a little out of character, even for him.

You could literally hear the screaming so much so that I actually walked down to see what

is going on.

And it was Kramer just screaming.

I think that Jim Kramer was literally the only member of the media, financial or otherwise,

who understood the problem that was about to start unraveling.

There was a real question as to whether the Fed was fully cognizant of the deterioration that was going on in terms of credit quality.

The newsroom was basically silent. I think that there was a complete sense of shock.

People were panicked that Jim had said too much or frankly that Jim

was wrong and was panicking people for no reason.

...