Feeble Bulls Couldn't Get It Done

Couldn't even keep this rally going? One based on a solid tech/manufacturing company's good earnings (Hewlett-Packard (HPQ - commentary - Cramer's Take)) and one of the largest retailer's number beating performance (Home Depot (HD - commentary - Cramer's Take))? You would think that we could keep the ball in the air for this one for a little bit, no?

Once again I see redemptions playing havoc, with the focus this time on the infrastructure and mineral names. I am astonished, for example, that Joy Global's (JOYG - commentary - Cramer's Take) stock is now almost literally at the market cap that the company intends to buy back! I see Freeport (FCX - commentary - Cramer's Take) getting crushed, and you can tell that's just endless liquidation.

I also see some retailers and apparel companies that can't lift, besides the Sears (SHLD - commentary - Cramer's Take) call that Dougie broke. Two of my faves, Costco (COST - commentary - Cramer's Take) and VF Corp. (VFC - commentary - Cramer's Take) ... holy cow, do they really deserve that whipping?

I believed that a rally could be mounted when the drugs, the banks, and the oil stocks seemed to be part of a surge that tech started.

All we got was a few hours of lift. I have to believe that the bulls will come back for one more dollop just because of where we are and the need to hold this level.

At the time of publication, Cramer was long Hewlett-Packard, VF Corp. and Costco.

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