The Market in Stealth Selloff Mode

You know what would be the worst? A series of down 0.75% days so we never have that crescendo where we get back in. Before, we have had short, sharp declines that scare people and build walls of worry that can be scaled.

This time it just feels real soggy, and stocks are giving up a point or two here and there and not getting clobbered.

Plus the nascent rotation into the Pepsis (PEP - commentary - Trade Now) and the Gileads (GILD - commentary - Trade Now) is, well, still nascent. So it isn't clear-cut, making it so there's no real bull market theme for the moment.

That's why I have been selling more aggressively than usual for Action Alerts PLUS. Because we could be in for a downside siege for a couple of days, maybe even a week, and it won't be evident until the end, when we probably do get really hammered.

This is a stealth selloff, and it is not giving you a chance to buy at good prices and is still giving you a chance to sell at good prices.

Still the best course of action, unless you want to buy some of the defensives that have lagged the market so terribly.

Random musings: Time to ring the register on A123 Systems (AONE - commentary - Trade Now). I had a feeling that would be a big one. But the easy money has been made. ... Huge scoop by Scott Moritz about Verizon (VZ - commentary - Trade Now) and Palm (PALM - commentary - Trade Now). You have to check it out...

At the time of publication, Cramer was long GILD and PEP.

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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.

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