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Here we are again: 3227 on the

Nasdaq Composite

, the low of that Monday in April. We thought we would revisit it and now we are here.

Whoops, we're here.

It just became the ceiling. It was the floor.

Ahhh, the old failed retest. Funny, how sections of the market are much improved since then: financials and foods, for example.

But tech. That's a different story. Tech is merciless. It seems bent on finding some new horrid level.

Can't be encouraging about that portion even as I go to bid for more


(BA) - Get Free Report


Hiding in aerospace and cereals isn't fun. But it is much less torture than hiding in chips and Nets.

James J. Cramer is manager of a hedge fund and co-founder of At time of publication, his fund was long Boeing. 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