Down to the Final Minutes

So much broken-field running today. So few patterns. If bonds are so bad, what's with the strength in

Procter

(PG) - Get Report

and

Colgate

(CL) - Get Report

? Or, for that matter, the Net? Those are all "tells" for a weaker bond market.

Couple that with a selloff in the cyclicals -- just take a look at the action in the

Morgan Stanley

cyclical index, down 4.5 points -- and you would think the bonds are going to trend up, not down. (Spoken like a true long long-bond guy -- though I wish I were a

(MNNAX) - Get Report

NetNet fund instead.)

And how about the action in the also-ran drugs, the

Warners

(WLA)

and the

SmithKlines

(SKH)

?

My conclusion: a session without resolution, a session that provided the key to nothing other than a good day. Another

NBA

game with the last five minutes telling the tale.

Don't forget my

Yahoo! chat this evening, which overlaps the

Cisco

(CSCO) - Get Report

conference call. I've got some real balancing ahead of me -- I think I'll put my dad on the Cisco call while I do the chat!

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Cisco, Colgate and Yahoo!. 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

letters@thestreet.com.