Supply Crunch

Cramer's using weakness in semis and Net names to put some money to work. And he's leaving real soon.
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We've got a nasty supply problem today. The mutual funds, flush from their 8%-plus week, are now going to be in inundated with new funds now that the

Fed

is on the bull's side with that bias change.

The last thing these guys want to do is sell. They have to worry about buying. No trading desks have much supply. Heck, they are all like

Berko

, in the pool already, and it's not even noon.

So you are seeing gaps in stocks on no volume.

Normally I would be offering stock here, taking advantage of some of those gaps up, but the bonds are looking good, the day is a seasonally strong one and I think more demand for stocks beckons.

Barring any statement from

Alan Greenspan

(unlikely -- just spoke),

Larry Summers

(just got the job -- not talking) or

Abby Joseph Cohen

from

Goldman Sachs

, Tuesday should see more of the same. In fact, I'm looking for that old 11:00 a.m. watch that those of you who have been with us for some time remember. That's when mutual fund managers power into their stocks because they have seen that morning's mail!

For me, I am using weakness, particularly weakness in semiconductors or prominent Net names, to put money to work. And I'm leaving after the Chinese food comes.

Random musings:

Thanks for all of the kudos on the

ABR Information Services

(ABRX)

piece last night. I will rewrite that for the weekend.

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

jjcletters@thestreet.com.