The Bears Are Shooting Blanks

They can't help themselves. I am talking about the managers who are behind the market and can't wait to get in. They are almost beside themselves that we couldn't take it down more. They can't believe they won't get their pullback.

I have bad news for them and good news for them.

The good news first: I think they will get the decline they need, the one that takes out 6% and maybe even 7%!

The bad news, I am beginning to think that it will be from higher levels, because they should have had a veritable panic on their hands today. When Intel (INTC - commentary - Trade Now) and Dell (DELL - commentary - Trade Now) say good things and the market doesn't fly, and when everyone who bought on the open has been crushed, that was the coup de grace moment, the moment when there were so few bulls around -- they are all taking the next 10 days off! -- and nothing happened.

As someone who used to love to short, I would be dispirited by today's action. If the best argument is that it didn't rally on good news and then it doesn't take out the low from yesterday and rally back, well, talk about thin reed.

But then again, I guess the onus is on us to have a ninth straight up day.

Heavy lifting.

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

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