So 3400 on the NDX is now something hallowed? We've held the bounce for about two hours, maybe it will soon be viewed as some sort of totem.

Nothing would shock me. Some guy earlier emailed me about astrology and finance and there was a time when I would have sent him a rocket back saying, "Don't you know I am a rigorous

Harvard

-

Goldman

-trained practitioner of the game?!"

Instead, I wanted to know what he thought about

Cisco

(CSCO) - Get Report

We could use a good totem. Maybe 3400 will be it for now.

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