This column was originally published on RealMoney on March 17 at 9:40 a.m. EST. It's being republished as a bonus for TheStreet.com readers.
They can't all go up at once. And they never have. A bull market is a preponderance, not a big stampede that embraces all cattle.
Yet, there people were Thursday, saying the breakdown in
spelled the end of whatever's going on here.
How can people be so short-sighted? I just don't understand.
Sure, we would feel more confident if
were to stop going down for a couple of days. I know I didn't like what I heard from
Kulicke & Soffa
Thursday. Wire bonding for semis is an important tell.
But to say that's the end of this run is no more valid than saying the bull market ended when
Procter & Gamble
didn't raise its range the other day. It's just faulty thinking.
More important, there are a lot of bears out there who point to this faltering; there aren't a lot of bulls who point to it. Money's coming in for certain, it's just not going to the Net or to semiconductors.
I say, forget about the
for awhile. It's the big listed guys' turn. That's enough to do the job, and for once, accept that stocks are really and truly breaking out. While Marvell and Broadcom were leaders, it's their time for a breather. No more than that.
What would make me change my mind? How about if I saw
crater? How about if
hadn't bounced back, or
Illinois Tool Works
go into a tailspin. They are the generals now, they are the ones going higher and leading us to new highs.
Please note that due to factors including low market capitalization and/or insufficient public float, we consider Kulicke & Soffa to be a small-cap stock. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.
P.S. from TheStreet.com Editor-in-Chief, Dave Morrow:
It's always been my opinion that it pays to have more -- not fewer -- expert market views and analyses when you're making investing or trading decisions. That's why I recommend you take advantage of our
premium Web site, where you'll get in-depth commentary
money-making strategies from over 50 Wall Street pros, including Jim Cramer. Take my advice --
At the time of publication, Cramer was long Wells Fargo and Procter & Gamble.
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
Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click
here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click
here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click
here to get his second book, "You Got Screwed!" and click
here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by
TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.