Some recriminations, some bumming out, some "why bother?" Some "why didn't we wait until the last half hour to buy?" second-guessing.

But, in truth, we think the short-term despair is just too great vs. the earnings. The wild card: a desperately needed (for the bulls) slow set of numbers.

If we get them, we think we have a big up day. If we don't. Well, we've got some ammo on the sidelines to commit.

And we will.

Random musings: Waiting for the

AT&T

(T) - Get Report

wireless deal. Talk about pressure.

Amazon

(AMZN) - Get Report

trading down and then back up a bit after the quarter. Need to hear the conference call.

iVillage

(IVIL)

CFO leaves to go to

Autonation

(AN) - Get Report

? Oh man, he must be a frying pan/fire kinda guy.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long AT&T. 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.