Still Running from Tech

The trader's going with consumer stocks, and his daughters wholeheartedly support him for it.
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If my girls could read my tech screen, they would be making funny faces at what they saw. They wouldn't stop to distinguish whether it was





(INTC) - Get Report




that was the offending item. They would simply pronounce the whole thing smelly.

And they would be right. Smack in the midst of preannouncement season, and you can feel the guts of a computer being puked up by its various holders.

That's why I am hiding in my consumer plays and still running from computer tech. It can't bottom because, as I said

this morning when I thought "they" would try to craft a rally, there is no demand.

In the meantime, think about the ease with which


(G) - Get Report



(PG) - Get Report

can fly, and you have to wonder how anybody can take the pain of personal computer tech.

I know it must seem so simple to think that Intel has to bottom somewhere, and indeed it does, but not until all of the bad news is out -- and we haven't had any bad news yet.

With drugs and banks and foods and cyclicals and airlines all doing so well, the obvious question is, Why bother?

I am adopting the ways of my daughters: If something stinks, I am not going near it until somebody cleans it up!

James J. Cramer is manager of a hedge fund and co-founder of At the time of publication, his fund was long Gillette and Procter & Gamble, though positions 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 by sending a letter to