Don't Forget the Plain Old-Fashioned Stocks

Good old growth stocks retake the lead.
Publish date:

Could it be? Is today revenge of the nerds day? I mean,

General Mills

(GIS) - Get Report

up 2? That hasn't gone up 2 since the





up a couple?


(GPS) - Get Report

surging 3?

Heck, it looks like old times, with solid growth stocks taking the lead for the morning. Here's a scary thought for you bears out there. Maybe a cooling off for the Net is actually good for the rest of the market. The plain old-fashioned stocks, or POFS, seem anachronistic when


(EBAY) - Get Report

jumps 30. But if eBay cools off, does the market take to the Gap?

I don't know, but it sure looks like what is bad for the Internet Sector index, or DOT, is good for the drug index, DRG, and maybe even the BKX, the bank-stock index, which is beginning to put on quite a move.

What am I doing? A little bit of POFS and a little bit of .coms. And, of course, NOSX, which stands for No Oil Service Index stocks.

Same as usual.

James J. Cramer is manager of a hedge fund and co-chairman of At the time of publication, the fund had no positions in stocks mentioned in this column, though positions 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.