The Havoc Is Hitting Home - TheStreet

The havoc of the secondaries and the lockup expirations is hitting home. Look at (PHCM) , which Ben Holmes highlighted this morning. It is getting trashed. Cisco (CSCO) - Get Report still can't lift (although the day is young).

That's hurting the whole telco-semiconductor complex. So


(XLNX) - Get Report

gets tabbed down. And


(NOK) - Get Report







turn soft. Not to mention




Texas Instruments

(TXN) - Get Report


In fact, for the moment the only stuff with traction is the el-nerdo big-cap consumer stocks and out-of-favor cyclicals. And those don't even have


(WMT) - Get Report

behind them.

One thought: Expiration week may be playing some sort of negative role.


(ORCL) - Get Report



(INTC) - Get Report



(MSFT) - Get Report

are heavily program-oriented, and those look terrible. Maybe there is some sort of program out there that is putting additional pressure on these names. Until I find out, I am


picking at them.

Random musings:

London calling? Indeed, even the locals at


have noticed our

new operation in the land of Big Ben. Check out .

James J. Cramer is manager of a hedge fund and co-founder of At time of publication, his fund was long Intel, Microsoft, Texas Instruments, Cisco, Motorola, Brocade and Ericsson. 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