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This column was originally published on RealMoney on Jan. 12 at 2:30 p.m. EST. It's being republished as a bonus for readers.

So, here's the selloff. Nasty, brutal and hopefully, short! I believe that this market needs this cooling-off. Remember

the six-goal rule? Maybe this will help, because we are up too much, given that oil is ramping.

I like to think that you would have taken something off the table by now, since the start of the year. I have let go some oils and some retailers for

Action Alerts PLUS, and believe that I would do another round if I had more I could trade out of.

How bad is it? Oh come on, other than oil, it's not bad. But I have to admit that oil must cool. Seventy-dollar oil is in no one's numbers, no one's. Oh, and my bad: The coldest winter in Asia in 20 years isn't helping the tight supply situation.

Bottom line: Let it come in. Take some profits. Way too early to buy, way too early. I can't even figure out what would be worth buying yet, that's how early it is.

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So wait, and ring the register. We will be able to get in lower for certain.

James J. Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

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