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Recovery Effort Continues

Despite a fierce attempt by the bears to spoil things, the market kept on keepin' on today.
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Another recovery day. The bad guys tried to spook them down and they couldn't.

They tried to crack the

Intels

(INTC) - Get Free Report

and the

Ciscos

(CSCO) - Get Free Report

, but that gambit seemed to fail.

Now we have a big number to get through tomorrow. I am not fearful of the employment number because a strong one never seems to get the tech bulls down. They revel in the

S&P 500

decline and use it to build positions. It's only us old guys that still relate interest-rate woes to the selling of all stocks. Only the pre-Net economy really seems to get hurt.

The

encirclement action could happen tomorrow if there is no decline. The shorts didn't have time to bring in their positions -- the bottom happened so fast -- that they are still lingering, still extended.

I can't wait! I love a good battle.

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