The Bear Phase Is Over

Click here for the latest from James J. Cramer.

Enough is enough. We think that if Yahoo! (YHOO:Nasdaq - news - boards) blows up it might go up and we are sick of the raids on Sun Micro (SUNW:Nasdaq - news - boards). So we are going long both.

Don't get us wrong. We hear the pawsteps of the bears. We know about some report that says Sun has some accounting problems. We think that's a pack of lies. Sun's accounting is fine. We hear that the orders may not be on fire for the first quarter. But first quarter is a long way away (in stock terms).

We know that Yahoo!'s near-term business might be problematic. Heck, it wouldn't shock us if Yahoo! preannounced a shortfall and lowered numbers for next year.

But after the Cypress (CY:NYSE - news - boards) and the LSI (LSI:NYSE - news - boards) and the Xilinx (XLNX:Nasdaq - news - boards) and the Intel (INTC:Nasdaq - news - boards) blow-ups, I'm now thinking you have be long ahead of a Yahoo! blow-up or a Sun Micro negative call. If you wait, you miss the bottom.

Once again, I reiterate that the bear phase is over. This rally looks like the real deal. It has the financials and the techs and the drugs all up. Maybe we bounce down a little off NDX 3000, but then we just reload and go through.

Sorry to be so unabashedly bullish. But nobody else I know is, so it seems fine with me.

---

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Yahoo!, Intel and Sun Microsystems. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to send comments on his column to James J. Cramer .