What's wrong with a little profit taking? It lets new people come in. Makes the market make more sense. Gets rid of the unreal sense of things.
That said, I hate markets that finish up 50 when the advance/decline line is down. I don't want this wild and crazy market to be just crazy. All the gains today were concentrated in a very few names. That's not so good, either.
A couple days of this kind of churning after the move we have had makes all the sense in the world. A couple of weeks of this, and I will be concerned.
Right now, I am not concerned. Bored maybe, but not concerned.
James J. Cramer is manager of a hedge fund and co-chairman of TheStreet.com. 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 by sending a letter to TheStreet.com at