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Jim Cramer's Best Blogs

Whatever, the chaos is palpable perhaps because it is impossible to have conviction in what you own because what you own is secondary to what is unfolding in Washington. And Washington simply makes you want to do one thing: sell.

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Cisco Stands Alone

Posted at 7:03 a.m. EDT on Wednesday, Nov. 14

Can Cisco (CSCO - Get Report) matter? Can Cisco play any more role of taking us higher than Home Depot (HD) did? Or Kors (KORS)? Or Dick's (DKS)? Can it lift the market after days of morass and quagmire even as those high-profile retail plays with good numbers couldn't move us?

Welcome to the world of pin inaction. As Cisco traded up last night I kept checking out all the usual tech subjects to see who was moving up in a correlative fashion. It was rather amazing. The only stock I saw people taking was Broadcom (BRCM) and that's because, somehow, even as Broadcom's main business, some 50%, is smartphone, people view it as a cable box company and Cisco makes cable boxes. So Broadcom, which had been brought down when it should have traded up when its true analogue Qualcomm (QCOM) reported its terrific numbers, is now going to get its due. I suspect the shorts, who had been leaning on this one betting Cisco would have a subpar number, will now have to scramble and cover.

But there was no other pin action in tech that I could see. Microsoft (MSFT), which had been going down already, looked to have another teeny downdraft off some more personnel changes. Intel (INTC) had no lift. That stock's at a 52-week-low. It didn't impact Apple (AAPL), and even though Cisco reiterated its bullishness about the Internet, I didn't see any Google (GOOG) buying. Facebook's (FB) caught up in the secondary, although I am inclined to buy that stock here because it has the growth that everyone else seems to sorely lack. .

I could argue that EMC (EMC - Get Report) should go up as Cisco called them out as a good partner, but they didn't call them out as a partner who was killing it with them. The business that drove this quarter was largely telco, and that doesn't include EMC, although EMC storage from burgeoning big data did get mentioned positively.

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