Jim Cramer: “Just go buy Procter & Gamble” (video)

CNBC captured a great moment during today’s market crash and bounce. As host Erin Burnett tries to explain the fast-moving market, professional crazyman Jim Cramer points at the screen and gestures in disgust: “That is not a real price. Just go buy Procter & Gamble. When I looked at it, it was at 61, I’m not that interested in it. It’s at 47? Well, that’s a different security entirely.”

Seconds later, P&G has bounced back seven points. Cramer updates his advice in real-time: “What I’m saying is, you put in a $49 bid for 200 shares of Procter. If you get hit, fine. This is very much 1987-like. A little different from 2007-like,” by which he means that he sees a fast bounce from which quick, safe traders can profit right now.

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Burnett snaps back, “When we saw the Procter, you said, ‘buy it,’ and somebody did,” by which she means she thinks viewers may have bought P&G at a newer, higher price instead of the $49 low at which Cramer had gesticulated.

Watch Burnett and Cramer banter as the market shifts on them in mid-sentence.