Banks to buy! We see them being bought off the recent decline in long-term rates. It makes some sense. These companies might have some upside surprises now that the Y2K spend is behind them.

I have been smitten by the banks before, only to have my head handed to me. So we are putting "Ts" next to our bank buys, for a trade. The rate equation has turned a tad bullish for these companies and they haven't rallied along with the boring consumer staples, but they could have better earnings.

Decent risk reward, we figure.

Random musings

: B2B is trying to bottom, which eliminates the possibility of the margin selling spreading.

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