Tech's Still Untouchable

Tech's such a drag here. The semiconductors just do nothing, nothing at all. They are moribund.

Only Qualcomm (QCOM - commentary - Cramer's Take) keeps going up, and I believe we will discover that some fund with billions under management just couldn't stop buying it, a la Take-Two (TTWO - commentary - Cramer's Take) and Oppenheimer.

Oracle's (ORCL - commentary - Cramer's Take) safe; it just reported.

But Microsoft (MSFT - commentary - Cramer's Take) sells 20 million copies of Vista and you could care less.

Hewlett-Packard (HPQ - commentary - Cramer's Take) has been at $40 so long it ought to pay rent.

Only private-equity rumors keep AMD (AMD - commentary - Cramer's Take) and Motorola (MOT - commentary - Cramer's Take) off the canvas. And Nokia's (NOK - commentary - Cramer's Take) no longer going up on Motorola's bad news.

Cisco's (CSCO - commentary - Cramer's Take) stalled.

Semi equipment, without semi buyers, is a joke that gets a few laughs every time a new analyst recommends the group. And they can't stop themselves from doing so.

That leaves Apple (AAPL - commentary - Cramer's Take) to do all of the heavy lifting, and Apple's becoming more of a fashion stock than a tech stock.

eBay's (EBAY - commentary - Cramer's Take) good, so is Yahoo! (YHOO - commentary - Cramer's Take), but now everyone knows it!

The group's just plain sick, the only non-housing-related part of the market that acts just plain terribly.

I reiterate that this is a calendar issue. You can't get more than a trade out of this group until the summer. Yet every day people keep trying to do so.

If you can't keep your hands off the trigger, go buy some Brocade (BRCD - commentary - Cramer's Take). But promise me you will sell it a day after the analyst meeting no matter what.

Sorry, the group's just a downer. And will stay a downer.

Random musings: I don't think Comcast (CMCSA - commentary - Cramer's Take) is going to buy Sprint (S - commentary - Cramer's Take). I believe it's doing just fine as it is. I think Sprint's going up because people have warmed to the defensive nature of the telcos.

At the time of publication, Cramer was long Hewlett-Packard and Yahoo!.

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Jim 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 Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his 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." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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