Biotech Buoy

Maybe the difficulty in reconciling Helene Meisler's view on the Nasdaq to Doug Kass's view on the Nasdaq is biotech!

Helene doesn't like the Nazz, thinks it is about to roll over. Doug's on board -- he likes the action and is long.

Perhaps the difference in views is that I am thinking of this index as tech when I should be thinking of it as biotech -- namely Cephalon (CEPH - commentary - Cramer's Take), Genzyme (GENZ - commentary - Cramer's Take), Celgene (CELG - commentary - Cramer's Take), Gilead (GILD - commentary - Cramer's Take), Biogen (BIIB - commentary - Cramer's Take), Amgen (AMGN - commentary - Cramer's Take) and Sepracor (SEPR - commentary - Cramer's Take) plus a bunch of other health care players.

The Nazz has the benefits of almost no banks, lots of techs with big cash positions and these biotech wonders that have acted fabulously since the year began.

Sometimes an index isn't what it seems. The biotechs, subliminally, may be the reason why the Nasdaq rallied even on this awful day. I predict continued outperformance by biotech in this world of zero interest rates. So, tie goes to Dougie!

Random musings: Good discussion with Jeremy Siegal and Jack Bogle on Street Signs today, with Jeremy pointing out that dividend stocks have held up but Jack noticing growth stocks are up more. In reality, both have been losers... Tim Geithner and the ProShares UltraShort Financial (SKF - commentary - Cramer's Take) destroyed the banks this week. I will have more SKF data on Monday that shows how much the shorts had to do with this move down.

At the time of publication, Cramer was long Celgene and Gilead.

ALL JIM CRAMER BLOG ENTRIES | POST A COMMENT | READ COMMENTS  

---

Jim Cramer is co-founder and chairman 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. To order Cramer's newest book -- "Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer)," click here. Click here to order "Mad Money: Watch TV, Get Rich," click here to order "Real Money: Sane Investing in an Insane World," click here to get "You Got Screwed!" and click here for Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he appreciates your feedback and invites you to send comments by clicking here.

TheStreet.com has a revenue-sharing relationship with Amazon.com under which it receives a portion of the revenue from Amazon.com purchases by customers directed there from TheStreet.com.