Looking Good and Going Home

Cramer speculates on the chances for an explosive technology rally.
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Apple

(AAPL) - Get Report

,

America Online

(AOL)

,

IBM

(IBM) - Get Report

and

Advanced Micro Devices

(AMD) - Get Report

all trading and looking higher. That tells me that a lot of people are leaning the wrong way as we go home. Couple that with

Western Digital

(WDC) - Get Report

exiting drives (good for

Seagate

(SEG)

), and we might have a positive old- and new-tech day on tap.

So far this year, we have had either one or the other. We either like the Net or the semis or the PCs. It would be interesting to see what happens if everything marched in unison.

Given that expiration is Friday and a ton of puts were bought during that selloff -- you know, the one that

Barton Biggs

termed the end of the

Nasdaq 100

in that

Barron's

interview (is the market, coupled with a bad print deadline, a cruel taskmaster?) -- I could see an explosive rally developing in tech.

Keep in mind that we shrugged off

Mister Softee's

(MSFT) - Get Report

negativity pretty well. And I have already opined on IBM's negative negativity wrap. And AOL? Well, how beat up is that?

Going home looking good. Someone just took me at 121 on a little IBM!

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Advanced Micro Devices, America Online and IBM. 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.