The bulls get to win a session. I think they won because of the massive capitulation we saw from real mutual funds. When the selling ended, midday, the market flew.
I can't point to any one thing in particular that caused the ramp. Six straight days down on the
? The collective
maiden-in-the-volcano-throwing that went all over the Street? The strength of the financials, which heartens the bulls like nothing else because it signals an end to inflation worries?
Or perhaps enough was enough, the NDX had gotten to some level where fresh cash was committed.
For someone, NDX 2880 was the big fat pitch she was waiting for. For someone, someone shrewd, who had the bat on her shoulder (Come on man, I got girls likin' T-ball!!) -- the moment to swing came and the ball was last seen hitting the big Ballantine sign on the scoreboard. Or maybe Goldenberg's Peanut Chews, if she was a righty.
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