Darn it all, this Texas Instruments (TXN - commentary - Cramer's Take) doesn't want to obey my rules. It refuses to retreat ahead of its midquarter update to $30 and change, where it was the last time it reported. That's a bummer, because if it sticks with what it said last time, you have to believe that we will see that level, particularly because it traded down to $27 on that outlook.
It's such a shame because this stock is so important right here, even more important than Intel (INTC - commentary - Cramer's Take). That's because Texas Instruments chips are so integral to the tech gadget rally -- the kinds of things that sell at Best Buy (BBY - commentary - Cramer's Take) -- that has propelled semiconductors to levels that, well, we predicted here.
It is a shame because Texas Instruments has Intel-itis, meaning it's addicted to telling the truth, sans hype, which then translates into some sort of "can't be all that good, let's sell" situation. Of course, Maxim's (MXIM - commentary - Cramer's Take) helpful and Altera's (ALTR - commentary - Cramer's Take) got the mojo, but neither is instructive to Texan; yet, people presume that both are.
To me, we won't be "safe" in tech unless this stock comes down first. If it doesn't, we ratchet up the risk factor and make tech a pass here until after Texas Instruments talks Wednesday afternoon.
Hey, I calls 'em as I sees 'em.
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At the time of publication, Cramer was long Intel.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 ActionAlertsPLUS. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.
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