We expect the bears to try to land a few blows in this last hour. But we suspect they will be glancing. There simply isn't a lot of downside momentum to this tape. Out of respect to the Taiwan elections Saturday and the
Producer Price Index
(heavily influenced by oil perhaps?), we can't take down much more stock than we did during the earlier break. But we are buying favorite stocks that are down 15 to 20 points and haven't rallied yet.
We see the same selling as you. We aren't being complacent. We just haven't had our long-term pro-stock thesis tested by this tape. If anything, we think there will be more rush to the
between now and the last week of the quarter and we can't be spooked by Japan. Heavens, that would have had us out of the
Dow Jones Averages
11 years ago.
The only real caution -- so much supply this week. I know that from reading Ben Holmes' great
ipoPros.com by the way.
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