Nope.

These long-awaited

numbers were not what the bulls needed. They were tailor-made for the bears. Everything was too strong. You got no comfort here. You got a basket of woe.

Join the discussion on

TSC

Message Boards. For us, we are paring back on some exposure before the opening. We were liking the bond tape vicariously for a couple of days there, which made the banks and the drugs look good.

I don't think we will get much positive follow-through there.

Is it a disaster? Not at all. The bonds have yet to give up a lot of their hard-fought gains.

But is it bullish?

Give me a break. The bears get to win a few, too, you know.

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.