What is strength in this market? What passes for positive? What can be bought on weakness?

Cheerios.

This morning

DLJ

downgraded

General Mills

(GIS) - Get Report

. The opening was delayed because of it. GIS was looking in the low-38, high-37 range. I love the stock. It is the ideal stock if you believe the

Fed

is engineering a slowdown because its earnings shouldn't be hurt.

Bam!

Buyers swirled all over the opening. It barely dropped at all. Now in what seems to be another in the trend of "this is the worst day I have ever seen," the stock is higher.

Now That's Relative Strength.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long General Mills. 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.