Three Bull Markets for This Tough Market

Wow, it's a "trust no one, certainly not your co-shareholders" kind of market. We know with the financials that nothing works at all. You have stocks that look like bargains at 9 times earnings like Merrill (MER - commentary - Cramer's Take) just was the other day, but now it's at 15 times earnings and maybe even richer, which is what happens when you wipe out earnings.

We know that we can't stop sweating in even now, in late October, so those warm winter coats at the mall aren't that enticing.

Autos? We are seeing some pretty negative auto loan figures all of a sudden.

Housing? Are you kidding me?

But today we found ourselves on the sawed-off plank of tech. We have a half-dozen tech stocks that have run so much that they can't be bought. And we have telco going from bull to bear in 24 hours!

What to do?

I still say return to the bull markets. Oil's back. Buy some. Minerals are getting too cheap again. How about defense? Those names are rocking.

Stick with those winning themes.

And wait for tech for a couple of days and then buy the ones that have been thrown out with the bath water.

Not yet, though.!

At the time of publication, Cramer had no positions in any of the stocks mentioned in this post.

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