Looking for positive signs:
stopped going down; biotech is rallying;
, which has worn down the
index, is exploding on positive
, a secondary, worked!
It's early. We are still concerned that the shorts are missing and that the stocks should pull back a little bit. To me it just looks like the margin clerks finished their work again and now the market can lift.
We are selling some shares of the stocks that are jumping 10 and 15 points today. We have had enough of them for a while. We want to get in shape for the next decline in the high rollers. It seems a little repulsive to us to see so much spring in the step of the stocks that just took our breaths away. But that is how they trade.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Tibco Software and Morgan Stanley Dean Witter. 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