Standing Up for Tech

Cramer is perusing the charts for the big broken techs, and thinks he's found a key technical level.
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Berko

thinks we make a stand here.

Sun Microsystems

(SUNW) - Get Report

was good enough, and orders were strong enough, that there is nary an excuse to sell that one.

Gateway

(GTW)

, also, had good earnings, good controls and isn't going to do something foolish in the ISP sector.

Jeff thinks those two stocks could cause a stand to be made in tech. I found myself perusing the stock charts for the big broken ones, the

I-Beams

(IBM) - Get Report

, and sure enough this looks like a technical place to make a home.

I don't know if these two can get us out of that

spin cycle I alluded to earlier, but at least we have the ammo that we couldn't get from the likes of those companies that reported today.

Random musings:

Compaq

(CPQ)

guy draws a blank ... Bank strength kept us puzzling all day ... We got spooked but not spooked out of

Broadcom

(BRCM)

, as this stock fit that new pattern of great quarter, so what.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long IBM, Sun Microsystems and Broadcom. 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.