Roam Out of the Wireless Sector's Range

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Ugh, wireless. Yeah, we can be happy that Sprint PCS (PCS - commentary - Cramer's Take) and Nextel (NXTL - commentary - Cramer's Take) didn't blow themselves to kingdom come last week. But what are we to make of the fact that perennial optimists Nokia (NOK - commentary - Cramer's Take), Motorola (MOT - commentary - Cramer's Take) and now Ericsson (ERICY - commentary - Cramer's Take) all have accepted the fact that demand isn't returning anytime soon?

Wouldn't they see the demand before any of these other companies? They are global in nature and would spot it before anybody else.

Worse, of course, is that not one of these companies will ever blink. Ericsson is a government-sponsored entity. Nokia's winning; no need to let up there. Motorola seems as stuck in its belief of a return to greatness as any failed company I've ever seen.

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So the war stretches out and the optimists just write it all off to the need to have new and better technologies -- like anyone cares. All people really care about is that the call goes through, and all of these companies have the same lack of reliability.

Meanwhile, the analysts won't give up on calling a turn. Not enough time has passed since these stocks were all great. We need a whole generation of analysts to burn themselves out hyping these stocks.

Maybe then they'll go up.

In the meantime, I prefer an Ethan Allen (ETH - commentary - Cramer's Take), or a Quest Diagnostic (DGX - commentary - Cramer's Take), or even a Delphi (DPH - commentary - Cramer's Take). Anything but this drip-drip endgame of wireless.

Random musings: In my catchups, I will refer to a couple of excellent pieces, including Herb Greenberg's bullish assessment of XM Satellite Radio (XMSR - commentary - Cramer's Take) and Arne Alsin's great piece on Ethan Allen, original ideas you won't see elsewhere. I have much more catching up to do, though.

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James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS by clicking here. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column to [e-mail].