Vitesse (VTSS) and Texas Instruments (TXN) - Get Report are freaking people out. These are good, solid stocks that reported good,solid quarters, but had run up a gazillion points yesterday. They ran up too much. They brought out sellers.

Today's a consolidating day in my opinion. We try to keep some of the gains we made yesterday, while we see if the rally can spread to the Red-Hot world.

It is way too early to tell, but it is certainly comforting to see the

Intels

(INTC) - Get Report

and the

Ciscos

(CSCO) - Get Report

following through. We are taking a little more off the table here, because the market seems so Intel-dependent that we are scared -- we only have the usual conviction in Intel and no special insight. We just had a huge run here and we want to have money if they pull them back between now and expiration.

Most important, we think the crisis has past. We think that the aftershocks will be dealt with just fine.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Intel and Cisco. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at

jjcletters@thestreet.com.