Bulls Are on the Prowl

With the employment number out of the way, the trader is getting ready to rock and roll.
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Encirclement beckons. The bears who didn't bring their shorts in will feel the pain now that the Big Bad Event is out of the way.

The

momentum funds will come in with guns blazing this morning, taking stock on top of the move that the futures say are putting on the market. The only question is whether the first move up holds and it keeps ramping or the first move pulls back a tad, allowing the market makers to bring in their shorts.

Still, it is a spring Friday. Morning rallies frequently fade into the first gin and tonics of the season and an early train home.

Don't get picked off buying them too high, I tell my trader as I write. Don't get stuck chasing 'em up. A better moment will come.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any of the stocks mentioned. 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.