Looking for trouble in the B2B world? Check out the price action in the companies that build and design Web sites. These companies' stocks are all pretty much in disarray even as business remains great. Which raises the question about what happens to Scient (SCNT) , Viant (VIAN) , Sapient (SAPE) , Proxicom (PXCM) and Razorfish (RAZF) when business turns bad?

What's going on here? How do good companies with strong fundamentals get clobbered? I think it is pretty simple. The Street is discovering that these companies are basically consulting firms. Consulting firms, even the best consulting firms, don't get ridiculously high multiples because they are just a collection of people billing other collections of people for work.

Every one of these companies has to pay a fortune to hire new talent. Every one of these companies is bumping up against the other because all of the low-hanging fruit has been picked. A lot of the medium-height fruits have been picked, for that matter.

Both

Matt "B2B" Jacobs

and I are worried about these stocks. At a time when B2B is busting out all over, these stocks can't get out of their own way.

We are not drawn by these prices. As these go lower, they will only attract more sellers, of the

Gary B. Smith

variety. In fact, I bet he's shorting them now, as their charts look like death.

Hey, can't love them all!

Random musings:

Existing home sales cooling? I doubt it, but the numbers indicate that maybe this 8% mortgage level can play a role.

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 any stocks mentioned. Cramer's fund may be long or short certain stocks in his biotech or B2B rotisserie leagues or TheStreet.com New Tech 30 index. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may 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

jjcletters@thestreet.com.