Explaining Dell's Weakness

Cramer looks at the apparent strength in tech away from Dell.
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Dell's (DELL) - Get Report loss is everybody else's gain?

Makes sense. Dell sells PCs for less; more people buy PCs. How else can you explain what looks to be strength in tech away from Dell?

(Or, you could argue that

Applied Materials

(AMAT) - Get Report

trumps Dell like scissors to paper, but I like my reason more.)

That's good news for tech, and with a backdrop of bonds no longer an issue for the time being, the buyers are back buying their faves.

Of course,

AOL's

(AOL)

meeting adds to the hoopla. Nice to have the macro out of the way and company news back in the spotlight, isn't it?

Wanted to get this out before the day got too crazy.

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