See the reason for the barbell strategy? New Tech is getting the stuffings kicked out of it at the same time that the banks actually have a good feel.

We want to make money every day at

Cramer Berkowitz

. Every day. We want to have something on our sheets that wins. Right now, we have tech on our sheets. That is losing. Right now. At this moment.

And banks are winning.

Join the discussion on

TSC

Message Boards. To keep our heads on right, we balance the portfolio. We don't want to get smoked.

Believe me, if we thought tech was over for good, we would have no hesitation selling and shorting. We are not doing that. We are simply not committing new money to the sector right now until the outlook is clearer.

We are lovers of tech, but we are not gluttons for punishment.

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

jjcletters@thestreet.com.