Ebb and flow, ebb and flow.
The market opens too low, so trader money flows in. It then rallies and traders who bought the opening sell it. It then comes back down, and
take advantage of the decline.
That's where we are now. It may seem like no man's land but it is actually an attractive time to buy. There are plenty of people who want out just because they hated the pain of being down. They don't even know why they are selling. ('Cause Europe is down? Because Japan is down? Hey, I guess those count as reasons.)
This dip buying is widely criticized by market professionals as something amateurs do. It has a rap which says "one day it will be wrong and you will lose everything."
Me? I just revert to my wife's
commandment: Buy them when you can, not when you have to.
This is when you can.
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 any stocks mentioned. 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