Could Have Been Worse

Light volume, but it hurts. I still think today was about the market being above key levels coming in, and it was due, and we know that it is expiration week and stocks had to get to their strikes.

I have to tell you that I thought the selling would be heavier. I thought that they could could kill 'em more, that Apple (AAPL - commentary - Trade Now) and Research In Motion (RIMM - commentary - Trade Now) would go below the strikes. Amazon (AMZN - commentary - Trade Now), which traded down to $81, bounced ferociously.

I am convinced that those stocks should have gone down and stayed down. They didn't.

To me, as a bull, that's hopeful. They led us down. They bounced. I have said all day that I am taking my cue from them. They succeeded, not failed.

Should have been worse.

It wasn't.

At the time of publication, Cramer had no positions in stocks mentioned.

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

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