Stay Carefully Bullish

The week goes out fine, except for the financials. I just don't like that. I need to see that group rally.

But no, it is all ag/aero/machinery/oil. All of it. And we need to see something broader if we are going to lose the charge of "froth" and stop scaring people away.

I am painfully aware of the dichotomy of working/not working that developed this week. We had no rotation into other groups and the only stuff that went up away from the ag/aero/machinery/oil complex was takeover names, nothing more.

Admittedly, there are enough takeover names to make things work in the short run. But soon the takeovers will diminish -- when the bankers go to the Hamptons -- and we will be without that prop.

I've been a bull, no doubt. I like the market's prospects, and I think it is going up 1,000 points on the Dow. I just want to go back to that period where we rotate from one strong group to the other.

In the meantime, don't lose heart, but don't buy anything that hasn't dipped a couple of percent.

Just not wise to do anything else.

ALL JIM CRAMER BLOG ENTRIES | POST A COMMENT | READ COMMENTS  

---

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.

TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.