Geez, these earnings seem OK. Intel wasn't a blowout, but nothing to be distraught over.

America Online

(AOL)

looked just fine.

But the stars of the show were these little companies like

E.piphany

(EPNY)

and

Vitria

(VITR)

that had been left for dead, but were just resting.

The strength of this rebound shocked us. The market just kept rolling and rolling with a voracious set of buyers coming in continually any time some of these

Nasdaq

stocks dropped from up-15 to up-14. It felt like short-covering and propping, but none of that can be proved with any precision.

Another day where the bears just got their skulls crushed. Another day where if you weren't in from the get-go, you didn't get much of a chance to be in.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Intel and AOL. 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.