Don't Scratch!

Cramer's going for a walk rather than succumbing to the itch to buy.
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I guess I am supposed to like the market because there are big futures buyers and lots of short covering. I guess I am supposed to like the bonds because they don't collapse. I guess I am supposed to just go buy the Net because it is not going down like it is supposed to.

No can do. Nasty fundamentals keep telling me to do the opposite, to stay away if I get the itch.

Jeff

caught the buy itch earlier; I told him to go take some

Benadryl

. I got the itch, he told me to put a Band-Aid on it.

The itch to buy because some futures yahoo is in there taking them up, and some common stock guys have to cover shorts, can be so great that even antihistamines and dressings can't stem it. That's what walks are for.

I am going for one.

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.