Banks and drugs seem to be in their own positive world today. Strangely, however, with the exception of
, I haven't heard a single institutional buy order in the group.
One of the perks of being an institution is that people hit our wire all day and tell us what they have to do. "Size buyer of
," or "Six figures
to go," or "In to take
It is part of the cadence of the day.
Today, other than one Pfizer buyer, no one has said a thing to us. No big sellers or big buyers. That means the groups that are rallying, are rallying with no conviction. But so are the groups selling down, including the semis and the networkers.
Last week we saw a buyers' strike. Today we have strikes by both sides. A real lockout.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Pfizer and Intel. 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