Enough Already - TheStreet

Enough with Qualcomm (QCOM) - Get Report already! There are tech stocks and telecom stocks that are not connected with Qualcomm. The woes of Qualcomm are not the woes of Nasdaq.

Sure, on day one we can expect some bailout. But day two? We are thinking some of the selling is just ridiculous.

We like the likes of the

LSI Logic

(LSI) - Get Report

,

Xilinx

(XLNX) - Get Report

and the semis that have been under pressure of late because of Qualcomm-like concerns.

Maybe we should be more nervous, but we think the market handled the put buying just fine.

It is like yesterday. Somebody banged down Oracle. There was nothing wrong with

Oracle

(ORCL) - Get Report

. Sellers were just too zealous. So we bought some.

Looking good.

If

Intel

(INTC) - Get Report

or

Analog Devices

(ADI) - Get Report

come down a little more, we will buy them in the same fashion.

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