Rumors of profit warnings. Rumors of rumors of profit warnings. Rumors that companies might be calling to warn that later they may preannounce.

Could we get any more twisted than that?

Anyway, the rumors won out and a seemingly benign down 13 on the

Dow

was actually a quite malignant day that had me checking the charts to see where support might be for some of my favorite stocks.

I tried to find some positives: the

MediaOne

(UMG)

buyout, the light volume, the rally in the consumer stocks like

Procter & Gamble

(PG) - Get Report

and

Colgate-Palmolive

(CL) - Get Report

. But that's a huge stretch. Couple of wacky Net closes.

Nah, fuggedabout it.

Another day that the bears mauled their way through the market. Crummy day.

Period.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. 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.