3Com

(COMS)

! Holy cow, and a huge price!

To me, this moment tells you why this market's so great. Here's a broken stock from yesteryear, a beaten networking equipment company that has gotten it together, but no one cares. Except for Mark Hurd and

Hewlett-Packard

(HPQ) - Get Report

, because Hurd wants to have a soup-to-nuts company -- or as John Chambers would say, and end-to-end suite of products for just about every company that needs tech, including telco tech. I applaud the move, and not just because less than two months ago I pushed this one hard after a really good quarter.

This COMS deal says what I keep saying -- this market has so many ways to win: takeovers, earnings, analyst revisions, recommendations. They are all working. Yet the negativity continues. As does the shorting.

Recently I did a spoof of the bears and got my head handed to me in email with some very prominent bears lambasting me for making fun of them in particular. It was bizarre. I had no one in mind at all ... touchy group.

I just wish they would take into account the micro evidence. Companies like

JDS Uniphase

(JDSU)

or

ADC Telecom

(ADCT) - Get Report

or

Tellabs

(TLAB)

or

RF Micro Devices

(RFMD)

or

Skyworks

(SWKS) - Get Report

, they are all too cheap. They are languishing. I think the H-P buy of 3Com is a wakeup call to all of the inexpensive tech stocks that are languishing -- your time of non-independence will soon be upon you.

A couple of people have pointed out that the futures barely budged on the news. I get that: tomorrow we get oil inventories (and oil controls about half the market) and jobless claims (and that's about the other half). Without those two pieces of data, the market's flying blind. And if you are just playing with the

S&P

futures, I can't blame you for not knowing what to do.

But I think COMS points the way. Once again an undervalued company is getting swallowed up. In this tape, there are hundreds of them ... many of them shorted!

Random musings

: I have been saying that with booming orders for the semiconductors, even though people don't believe in

Intel

(INTC) - Get Report

, the big orders for the semi equipment companies are right around the corner. The numbers from

Applied Materials

(AMAT) - Get Report

indicates to me they are here.

At the time of publication, Cramer had no positions in the stocks mentioned.

This post appeared yesterday on

RealMoney

. Click here for a free trial, and enjoy incisive commentary all day, every day.

Special note from Jim

: You can learn my time-tested ways to trade smart, even in this market. All my latest thinking is in my brand-new book,

Getting Back to Even

, which I'll send to you as part of a special promotion when you

sign up for my Action Alerts PLUS service for a limited time. So if you sign up now, you'll get to see how I'm playing these stocks in my portfolio today, plus, I'll teach you how you can play these stocks to help your portfolio get back to even.

Cramer's Upcoming Book Signings
Tuesday , Nov. 17, 7 p.m. Barnes & Noble, Manhattan(33 East 17th St.)

Jim Cramer is co-founder and chairman of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. To order Cramer's newest book -- "Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer),"

click here. Click

here to order "Mad Money: Watch TV, Get Rich," click

here to order "Real Money: Sane Investing in an Insane World," click

here to get "You Got Screwed!" and click

here for Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he appreciates your feedback and invites you to send comments by

clicking here.

TheStreet.com has a revenue-sharing relationship with Amazon.com under which it receives a portion of the revenue from Amazon.com purchases by customers directed there from TheStreet.com.