Here's What the Bears Should Worry About

This column was originally published on RealMoney on March 1 at 12:56 p.m. EST. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.

OK, we all know the negative scenario. Let me give you what the bears should worry about.

The fact that we recovered from down 200 will encourage Europe, where the markets are better, to be up 1% to 2% tomorrow as the buyers come in and take advantage of the decline.

When you get Europe strong, you may have an up opening that doesn't fail.

Then you could have a situation where the bears try to knock the market down and they fail. Or you have short-covering on Friday afternoon, an old pattern for bear markets.

That this good scenario could occur cannot be ruled out, if only because today was a day where if you panicked, you know it was wrong.

If that's the case, there's still plenty that works: Altria (MO Quote - Cramer on MO - Stock Picks) right here, General Mills (GIS Quote - Cramer on GIS - Stock Picks), Coca-Cola (KO Quote - Cramer on KO - Stock Picks), Heinz (HNZ Quote - Cramer on HNZ - Stock Picks), Clorox (CLX Quote - Cramer on CLX - Stock Picks), Avon (AVP Quote - Cramer on AVP - Stock Picks) and Bank of America (BAC Quote - Cramer on BAC - Stock Picks). All of these make sense here.

So do the stocks that are in the drilling complex. Halliburton (HAL Quote - Cramer on HAL - Stock Picks) is down since it announced its buyback! GlobalSantaFe (GSF Quote - Cramer on GSF - Stock Picks) was magnificent. Transocean (RIG Quote - Cramer on RIG - Stock Picks) has pulled back big.

I'm just trying to get the long side your attention now that the bears have not been able to send the market down very strongly since the morning V bottom.

Oh, and for you technicians out there, we did hold the levels that we hit the other day.

That matters, too.