Is the big trade out of old tech and into consumer products? You have the
consumer products conference next week. You have bonds bouncing and seeming to bottom. You have fears from personal computers, with tons of money coming out of that group and looking for a home.
Big-time money has been reluctant to leave tech. It is liquid, juicy sexy and trades with power. But so do the consumer products stocks. What do I mean by consumer products? Very, very simple. Again, I don't have to tell you what to buy. I hate doing that. I am going into my fridge and into my medicine chest. I am going to visit the drug store (not .com). I am strolling down the aisle of my
with my wife's shopping list.
Chicago Purchasing Managers
report -- shows increasing strength; higher mortgage rates don't impact home sales; consumer products companies being too cautious after a year of miserable sales.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At the time of publication, his fund was long Merrill Lynch, though positions 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 by sending a letter to TheStreet.com.