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Boy, I would hate to be a bond reporter. You are forever describing this endless, colorless tug-of-war between inflation fears and earnings woes. The latter won today, and that translated into a drug and bank rally, or more aptly, a modicum of a rally.

Interesting to see that the NDX pattern of the previous weeks DID NOT hold. The NDX finished down, but not much more than it had been down at 3:30. Still, that sell program sure did take the wind out of the sails, and put wind in the sales (couldn't resist; long week). I am betting that the trends you see on your screen right now are the ones that continue next week. In the meantime, liking phone tech and disliking computer tech.

Don't forget that I will be doing your redo this weekend. And of course, this weekend I am going to watch more film, shorten my stance, take a few more cuts than usual, cut out the dipping and most definitely get to the stadium a half hour early for extra practice. Creatine maybe? Of course, my tarred-by-the-same-


-brush partner,

Jeff Berkowitz

, who suggested this end-of-slump litany, does point out that we didn't swing at the p.c. knuckler. Think I'll get a lot of ink when I break out of the "slump"? Somehow methinks not.

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