Late Buyers Are Real Enough to Matter

Late buyers. Sure they are phony. Unless they come in every day. That, I think, makes them a lot less phony.

And they are in every day.

Could be a pattern!

No, I am not being a joker. But I have to tell you that the technicians on the site have a million reasons why they hate this market -- they seem to materialize by the day.

But one of my favorite indicators is how the market closes, because it is a referendum on what you did for the day, and when we have a close like this, you feel fabulous for buying and like a chump for selling. A chump index!

This matters because, for example, we bought some Devon (DVN - commentary - Trade Now) today when the buying was grim and we finished up nicely, which just is so terrific that we wish we had bought more.

Just a quiet indictor, but one that matters. Almost every day.

At the time of publication, Cramer was long DVN.

---

Know What You Own: In Wednesday's trading, the most active stocks include Citigroup (C - commentary - Trade Now),Bank of America (BAC - commentary - Trade Now), the S&P Depositary Receipts (SPY - commentary - Trade Now), the Financial Bear 3X (FAZ - commentary - Trade Now), the Financial Bull 3X (FAS - commentary - Trade Now), the Financial Select SPDR (XLF - commentary - Trade Now) and the PowerShares QQQ (QQQQ - commentary - Trade Now).

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.