The PC business is stabilizing!

But that's the property casualty business I'm talking about, not the personal computer business.

No matter how many times the analysts squawk about how

Dell

(DELL) - Get Report

,

Intel

(INTC) - Get Report

or

Microsoft

(MSFT) - Get Report

is good, it doesn't seem to matter -- the sellers are still in force.

That's why I am focused on the property casualty business and the bullish presentation made by

American International Group

(AIG) - Get Report

last night about how insurance may be firming.

When tech is crummy, that doesn't mean we have to find which niche of tech works. I am not going to check into

Komag

(KMAG)

and

HMT

(HMTT)

when I can't check out of

Compaq

(CPQ)

and Dell. I am going to look at other areas.

With bonds firming, in part because the word is that the

AT&T

(T) - Get Report

deal is fine since the company cut back the size of its offerings, I want to continue to look at things beyond tech.

For example, take the

Coke

(KO) - Get Report

call. If Coke were to get clocked really hard, that might be a place to go.

Morgan Stanley

is bullish about

Gillette

(G) - Get Report

-- that's another potential. In the meantime, I am going to keep trying to find an insurer that works, and I am not including

Conseco

(CNC) - Get Report

, as I thought that Heard on the Street column this morning was a killer!

Of course, my fave area, the banks, continues to make all sorts of sense to me. As do the drugs. It doesn't have to be tech all day, every day. It can be other things, too.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long AT&T, 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 at letters@thestreet.com.