Still No All-Clear on the Market

Of course, people want to know what to buy, now that the market is "all clear." May I suggest that we know that there is no all-clear signal? I believed earlier this week that we could break the pattern and not give up the gains. That was wrong. We proceeded to give them right up.

Will that happen again?

Seasonally, we are in better shape starting next week, but the pattern may not be broken. Someone on my radio show just asked me if he should buy Toll Brothers (TOL - commentary - Cramer's Take). I don't believe things are all clear for Toll at all. Another person wanted to know about Sears (SHLD - commentary - Cramer's Take). I like Sears for a long-term play on the talents of Eddie Lampert. No all-clear.

I only point this stuff out because the mood swings are so great here that I want to reiterate that if you were almost shaken out the other day when we were headed through 1170 on the S&P 500, sell some now, 'cause we may very well be down there next week when someone says, "This guy Libby's going to sing and he is going to bring down the house."

I don't believe he will. But if you are a bear, you have to believe that someone's going to spread that around.

It's too good to check out!

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At the time of publication, Cramer was long Sears Holdings.

James J. Cramer is a director and co-founder 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 ActionAlertsPLUS. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." Cramer appreciates your feedback and invites you to send him an email by clicking here.