I may not be able to get my kids to do their homework, and I certainly can't buy an inch of positive ink offline, but how about those QQQs, the Nasdaq 100 Trust?

They added the strikes I said we needed at 10 a.m. to make this thing worthwhile already, and now we have a way to play the upside.


10,000 -- who cares? I am focused on a potential rebound in


, which has been a miserable performer of late. Today the telco-techs looked like they were going to join their PC brethren in nose-diving, but lo and behold, in midmorning things switched, and this segment of technology took off. Again, I don't know how to play a tech rebound other than through QQQs, as I don't want to own NDX calls and I don't want to do the

Morgan Stanley High Tech Index


In the meantime, in the background people are talking about how high the market is, and I know that's the case. As I have cash on the sidelines, I sympathize, but meantime, that cash sure isn't performing as well as stocks. In the end, that's what matters.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At the time of publication, the fund was long QQQ, although positions 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 by sending an email to letters@thestreet.com.