This column was originally published on RealMoney on March 5 at 11:09 a.m. EST. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.

So Europe simply catches up with Friday's

Dow

action and no more that that. So typical.

Meanwhile, we trade down to 12,045, right where we hit Thursday's low on the Dow, give or take 10 points -- well, take 10 points -- and we can regard that as a successful retest.

Plus, we are now in a mode where we have buybacks working, we have a major reversal in the banks, and we have a remarkable tech rally.

All of this is enough -- third test of the level, buybacks in force, stocks bucking downgrades -- that you are getting levels where people are very interested.

Here's a thought: The traders freaked out, but other, cooler heads, looked at things over the weekend and liked what they saw.

Not bad for a morning's work.

Random musings:

Watch the dot-coms. I am convinced that

Yahoo!

(YHOO)

will have an upside surprise.

At the time of publication, Cramer was long Yahoo.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, 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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