Checklist of the good, the bad and the ugly as we ponder which stocks institutions are going to pile into at the end of the quarter:

  • The good: Personal computer companies and the semiconductors that go into them. Also, companies that make wireless handset equipment and the semis that go into them. And Net companies with earnings.
  • The bad: Companies that are totally conceptual in nature and derive most of their revenues from Net consulting.
  • The ugly: Companies that are totally conceptual, derive most of their revenues from Net consulting and have accounting problems, and biotech companies with patent problems.

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 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

jjcletters@thestreet.com.