Want Safety in Tech? Think IBM

Editor's note: Jim Cramer will present his 2009 stock outlook for the first time at TheStreet.com Investment Conference on Saturday, Oct. 25. Click for details.

Tech's loved in the last couple of days, mostly because it has been so oversold. Today it's the IBM (IBM Quote) effect, and it does seem a little silly because the problems ailing tech are consumer-oriented and IBM has no consumer orientation.

I have liked Apple (AAPL Quote) and Research In Motion (RIMM Quote) -- right for a long time, really wrong lately -- and they can rally simply because they, like Qualcomm (QCOM Quote), are giant tech names that are compressed to a ridiculous point given that the earnings are not falling apart.

But Intel (INTC Quote)? Does anyone know how they are really doing? Cisco's (CSCO Quote) down, and that one I think is doing well, so we have a bit of an anomaly on that one.

My take is simple: This group is the one that is driving the averages higher, and the financials keep it going lower. I want them to reverse and then I will like the market more! The only safe name? IBM! I would buy that one only up a couple. I am sure the tech analysts will be all over it tomorrow.

Random musings: One of the funniest things right now is the debate over mark to market. The purists continue to say that it is bad to waive because it interferes with the market. That's just moronic. There will be no market, all of the banks will be broke and owned by the government. Bank of America (BAC Quote), GE (GE Quote), MetLife (MET Quote) -- watch those, as they are the big secondary stocks, and Met and BAC are holding prints. GE hasn't. ... Goldman's (GS Quote) not holding up well and there is an operation going against them like I mentioned in a previous piece. Total Kesselschlacht move. ... The NYSE Euronext (NYX Quote) is only a $7 billion company with a 4% yield. This is amazing. Clearly reflecting that it is an irrelevance. It should have done the credit default swap market, but it moved too slowly. ... iStar Financial (SFI Quote) used to be a major company. How did that get to a dollar. ... Bank of America breaks the print price.

At the time of publication, Cramer was long Cisco, Qualcomm, GE and Goldman Sachs.