That's it! We are selling everything and buying exactly what Warren Buffett owns. You attack me -- you attack him. Hah! Just dreaming a bit after a tough series of press clips.
Tape's all over the place today. The techs look weak, which makes me want to buy them as I
mentioned this weekend. Can't believe how badly the telco-techs act, as if that article about regional Bells "losing" $5 billion in inventory means they won't be spending that much. That's a major focus for us, as we want exactly those kinds of stocks. I think that's wrong, and I am trying to take the other side of that selling.
In the meantime, don't forget that it is expiration week -- a positive -- and that London is down hideously -- a negative. Seems like business as usual: People getting too negative about tech setting up that trade and more selling than I expected in the financials, given the deal this weekend.
The most disappointing news of the day is a lack of
strikes -- that's the
-- to play either direction. There are no March calls, and the only Aprils that are in the money are the 98s. That's wrong and surprising, given the index's 100-plus level. I thought for sure that more strikes would be added over the weekend. Market makers, please consider adding some deep-in-the-money strikes, if not for March than at least for April. Can't work with what we have now.
Appreciate the sympathy from this weekend's bashing, but let's move on already.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. 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 by sending an email to email@example.com.