Tech's Lagging, but the Group Has Grit

As usual, tech is the Achilles' heel of this market. Tech Data (TECD - commentary - Cramer's Take) is an excellent barometer for tech spending, and boy is it ever sinking. Hewlett-Packard (HPQ - commentary - Cramer's Take) had already strutted its stuff, so a second go-round doesn't mean much. Handsets are weak, so nothing doing there for Motorola (MOT - commentary - Cramer's Take) or Qualcomm (QCOM - commentary - Cramer's Take). Apple's (AAPL - commentary - Cramer's Take) already ramped.

That said, we know this group has about a hundred lives. I think Cisco's (CSCO - commentary - Cramer's Take) gotten back to being "cheap" although it's lacking in catalysts. The semiconductors don't have much going for them, but I like the split up of AMD (AMD - commentary - Cramer's Take) to produce a profit for next year.

I don't like buying Google (GOOG - commentary - Cramer's Take) up this high, and I don't trust the numbers. But on weakness, there's value there if you see a turn in 2009 in advertising. And finally, Research In Motion (RIMM - commentary - Cramer's Take)? Oh, come on, the orders will be there, and it is really overdone down here.

At the time of publication, Cramer was long Hewlett-Packard, Qualcomm and Cisco.

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