Looks like biotech won't be contributing to the margin clerks' pound of flesh today. For a second, when I heard the positive Clinton gene comment -- something that took away from something said offhandedly before -- we all made Jean jokes but managed to snare some of those Biotech HOLDRs (BBH) - Get Report, betting that this group is way too oversold.
and I crashed the markets for a day or two, and I didn't mean to," our president said earlier.
Remember when we put together the pastiche of what makes the market work or fail, we start with forced selling. When we can game that a part of the forced selling won't be there, either because the business-to-business stocks are rallying or because Clinton's no longer getting into the market's genes, we can afford to let stuff run a bit.
Also, don't forget this is a big contribution week. Some of the more boring mutual funds get funds in as per the beginning of a quarter. And tax refunds came big and early and get put to work here.
river in Finland
is turning black from red right on schedule. What a stock!
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Biotech HOLDRs and Nokia. 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