Publish date:

The Market's Rude Health

It's hard to take the pulse of things when the favorite stocks change daily.
Author:

Another joyless plus-200 day. Another day when 1900 issues were up, with virtually none of those issues being favorites from 1998.

Incredible. Today it is the papers' and industrial gases' turn. Can talc or molybdenum be far behind? How about zinc or high abrasives?

The saving grace to the "healthy market within the unhealthy

Nasdaq

" is the action in the drugs and the banks. Both are moderately to the upside and lend credence to the idea that inflation is not roaring back, even as the cyclicals continue their rampage.

Looks like the late ramp in the

DOT

TheStreet Recommends

from Friday was nothing more than a few institutions buying some of their Net faves.

Can you have a healthy market without the

Investors Business Daily

index rallying?

Yes, if you don't have any money with those funds I guess.

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 the stocks mentioned, although holdings can 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

letters@thestreet.com.