Real Buying, Right Now - TheStreet

I like to alert you when I see real buying, when people are willing to pay up for stocks. Today there are large institutional buyers of the banks and the brokers. I have seen large takes of

Goldman Sachs

(GS) - Get Report

and

Citigroup

(C) - Get Report

, and I have noticed persistent buying in

Merrill Lynch

(MER)

and

Wells Fargo

(WFC) - Get Report

.

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Message Boards.

I don't want to outthink this. I think this buying has to do with the cheery action in the bonds, coupled with the strong utility averages. We had a nice pullback in the banks these last few days, so this could simply be a reflection of rotation. But the buying is pronounced and aggressive.

How do I use this information? Every day there is some raid on the market, some totally scum-sucking-pig method of knocking the market down, usually by manipulating the always-hungry-for-negatives crowd in the press.

When it happens, you now know what I will be buying.

Random musings:

Red Hots or Red Nots? Group getting hammered. Hanging on to a token amount of

Redback

(RBAK)

, but I have a limited capacity for pain.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Broadcom, Goldman Sachs and Redback Networks. 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.