Just Wait for 3:55 p.m.

Today's trading is like the NBA, where the last five minutes can determine the final score.
Author:
Publish date:

No sense looking for patterns where there aren't any. I haven't seen markets this thin in some time. Earlier today, a 100 lot of futures sold terribly knocked the market down viciously. That's pretty ridiculous.

So, we are back into

NBA

land, where the last five minutes of future buying or selling will determine the final score, and everything else is just filler.

Sure, there are some signs of strength in tech and

The Street.com Internet Sector

index, but it is pretty slim and was basically stopped when the bonds ran into huge resistance.

These are hostage markets, where we are hostaged to the bonds. The moment the bonds stalled,

NDX

and

SPX

futures sellers came in and banged the markets to levels that seemed downright ugly.

The speed of the decline is a little ridiculous too. In the time it took for

Berko

and I to get two rainbow water ices around the corner, the market dropped 80

Dow

points.

So, we are using limit orders, buying our faves when they hit our prices and being happy to let the volatility work for us.

Boring, nonaggressive, somnolent and, ultimately, great when the roller coaster goes back to its peak before the next down leg -- that ultimately brings you back to where you started.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in the stocks mentioned, although holdings can 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.