About to Get a Wave of Cash In

We are down badly in tech, about 3% in a lot of these great companies. Obviously, the cyclicals are being killed.

Obviously, the banks and homebuilders are getting crushed. Same with retail. Plus, the stocks that had been strong, the Cumminses (CMI - commentary - Cramer's Take) and the Praxairs (PX - commentary - Cramer's Take), the steels and the chemicals, are going to get hurt bad for a couple of days.

But why aren't we down much more? Isn't that the question? And the answer is that we are about to get a wave of cash in, the wave that comes from the short rates going down.

Some of the brokers are rallying already, and I think that's because the deals are about to get done that have been the overhang. And these firms always go up ahead of rate cuts, including the ones that don't happen.

Citigroup (C - commentary - Cramer's Take) is the real tell because that is always the first to go down and stay down, other than Bear (BSC - commentary - Cramer's Take)!

And we are about to get some relief to the credit markets. Not so much relief that Beazer (BZH - commentary - Cramer's Take) or KB Home (KBH - commentary - Cramer's Take) makes it.

And I am sure not enough for people to think that Washington Mutual (WM - commentary - Cramer's Take) makes it. That big deposit base is pretty juicy though.

And, there is nothing more bullish than rates being cut. Initially, it won't "work" and we will have some pain. Which is why you have to pull the trigger soon on some of tech, meaning 2%-3% soon.

I know that if you thought the fundamentals were sound you got rocked. But if you thought that, like I did, things are not so hot, you are going to get buyers coming in to buy health care and staples, and high-growth tech (Inverness Medical (IMA - commentary - Cramer's Take), Google (GOOG - commentary - Cramer's Take)) and sell financials -- still -- until they actually see the ease. Then it will be a reversion to the same groups that are hated.

But not yet. Not yet.

Random musings: What can be bought today? Oil and Oil service. They're pure winners still.

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At the time of publication, Cramer was long Citigroup and Inverness Medical.

Jim 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. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his 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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