Continuing the old freak-out in the arms-merchant/infrastructure build-out names! The other day it was Exodus (EXDS) (yes, I can say it without singing).

Today it is

F5 Networks

(FFIV) - Get Report

. It is too difficult in this limited space to tell you exactly

what F5 does --

besides go down

-- but that's what links are for.

F5 committed the mortal sin of reporting an in-line quarter! Dastardly. It is hard to believe that the company could only do an in-line quarter considering it sells load-balancing equipment that distributes Web traffic among servers. I thought this area, along with hosting, was red hot. (Suffice it to say

TheStreet.com

(TSCM)

uses load-balancing equipment in spades, although I don't know if TSC uses F5, and I wouldn't be privy to it.)

So what we are getting is a nasty shock to the infrastructure plays. Just when we didn't need it. We continue to think that of the B2B names, the infrastucture/arms merchants and business-to-consumer stocks, we like the latter best, because

everyone has written them off

. And we dislike the infrastructure names because everybody is trying to hide in them.

Those hiding behind F5 have a lot less stock to hide behind today.

Random musings:

Oops, there goes another rubber tree ...

Marimba

(MRBA)

also did an in-line quarter with similar results. One-third-off sale!!

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