Cramer: Banks Are Vital to the Market's Psyche

This column originally posted on RealMoney.com at 6:57 a.m. EST. For more information about subscribing to RealMoney, please click here.

You never want to buck the financials. I have said over and over again that the group is too important to let go. Can we really envision a world without Citigroup(C Quote) and Bank of America(BAC Quote) common stock? Can we envision a world where PNC(PNC Quote) and Bank of New York(BK Quote) and State Street (STT Quote) are no more? A world where Wells Fargo (WFC Quote) and JPMorgan(JPM Quote) don't make it?

It's funny when you put it that way, because we know that if those stocks weren't in the S&P 500, if we just took them out, we would be feeling like we should be buying, buying, and buying judging from the very nice pullbacks we have had to above the lows of October and November now that we are oversold. ...