Pure Opportunity

Don't get sidetracked by the Fed hoopla, Cramer says. Things are good right now.
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Let's face it. Somebody is going to be bummed out today. Some dollar bull will be pissed off. Some bond bear will be grumbling. Some stock-market player will have a sell-on-the-news philosophy. These unhappy grumblers will be in the futures pits and on your TV right at 2:17 p.m.

They will talk about the next meeting before this meeting is even cold! They will discuss how not enough was done, or how too much was done, or how nobody can be happy.

Bunch of losers.

My goal today is to ignore that ticked-off quadrant. I am approaching this market as pure opportunity right now. The numbers lately have been fine. The

Fed

takes action -- terrific. I don't want to look through it.

Things are good right now. We just came through an extended correction, and all that happened is that the IPO market and the speculation that went with it cooled off. That's good, not bad.

Hey, maybe I sound like a coach who's telling you just to focus on the good fundamentals and not to get sidetracked by the Fed hoopla. But that is exactly how I approach things here at

Cramer Berkowitz

.

Good luck today.

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.