Glad I'm not short. I can't recall a Friday where this market looked good. Today's that day. Maybe it is the conclusion of the Ford (F) - Get Report bond deal that weighed so heavily on the market. Perhaps it is the Goldman upgrade of Dell (DELL) - Get Report. Maybe it is S&P's decision to add some tech, Qualcomm (QCOM) - Get Report, into the elite 500 instead of rock and stone companies.
Or maybe there is a sense that preannouncements are now over and earnings period is in full swing.
For me, I used the weakness generated by the myriad sell programs this week to put my positions on. I am long tech and telephone tech (broken record) and some Net. Semis? I got semis. Come get my semis.
Don't forget though, that we are playing by summer rules. The Street will shut down promptly at 11:43 a.m. Enjoy it while it lasts.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Ford, Goldman Sachs and Dell. 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