Oracle Gives the Tech Green Light

Did we really think the buyers could resist tech? We are only as good as our last quarter and, despite the endless articles about how bad Oracle (ORCL - commentary - Trade Now) was, the only real conclusion you could reach about its excellent quarter was "the enterprises are spending again and they are spending like mad."

We know that the individual is buying tech -- even the miserable Research In Motion (RIMM - commentary - Trade Now) quarter, sorry as it was, showed great individual buying. The frenzy for Apple (AAPL - commentary - Trade Now) -- at last being reflected in the stock and will continue to be -- plus the terrific reaction to the Palm (PALM - commentary - Trade Now) Pre showed you that.

However, Hewlett-Packard (HPQ - commentary - Trade Now), VMware (VMW - commentary - Trade Now), EMC (EMC - commentary - Trade Now) and Salesforce.com (CRM - commentary - Trade Now) have been lagging because of worries about the enterprise. Cisco (CSCO - commentary - Trade Now) too has been slipping badly of late. Microsoft (MSFT - commentary - Trade Now) had some enterprise worries that may have gone bye-bye for now off of Oracle's quarter too.

The Oracle call ended those enterprise worries, plain and simple. It made it clear that things are getting better at the corporate level. It is enough to make me want to take Verizon (VZ - commentary - Trade Now) and AT&T (T - commentary - Trade Now), which have been hurt by the enterprise slowdown and at last are starting to roll.

I would be an aggressive buyer of Cisco off of Oracle; I would be buying H-P aggressively too as well as Microsoft. I am not forsaking the Qualcomm (QCOM - commentary - Trade Now) trade or any of the other little players such as Commscope (CTV - commentary - Trade Now), RF Micro (RFMD - commentary - Trade Now) and TriQuint (TQNT - commentary - Trade Now).

I am simply saying that Oracle's the ultimate green light and it won't be interrupted by Rambus (RMBS - commentary - Trade Now) weakness or a so-so pick-up of Intel's (INTC - commentary - Trade Now) communications chips. By the way, Intel's on the move too!

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

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