Shouldn't I have sold much more stock when I could have? Wasn't I long way too many financials? Why didn't I short more personal computer tech if I disliked it so much?

The good news, for those of you who are long, is that these are the questions I tend to ask myself after we have had a good hearty decline. The bad news is that I still have plenty of cash, meaning, I think that the market is not done going down.

So, you can take your pick. You can be contrarian against me and start buying like mad. Or you can wait to see if I keep committing cash and then panic out at the bottom, the so-called horror of Oct. 8th that I have chronicled endlessly -- and woken up screaming about endlessly, too.

Today, when my wife called, she asked me, "What do you think of the tape?" When I said it was ugly as all get out, she then asked me the logical question, "What are you selling?" I told her that I thought I had positioned myself well enough that I didn't need to sell anything. You can only have that conversation once. If we are down 200 points tomorrow, it will be "let the recriminations begin" time at home.

Somehow, I think it will be in-between for a couple of days. Nothing radical happening either way. A chance to lighten up on what was bought too aggressively and to purchase the things I really love that are getting clocked.

Guess we will know soon enough.

Random musings:

3COM

(COMS)

call went fairly well. Or as Jeff said, "Could have been worse." Not a ringing endorsement but not a disaster.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in the stocks mentioned, although holdings can 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

letters@thestreet.com.