Use Weakness to Build Strength

While some folks will only be happy with market home runs, Cramer is taking advantage of this weakness to rebuild positions.
Author:
Publish date:

Nothing like a little revenge of the

SPX

nerds, the indexers who have sat back and let the

QQQ/NDX

folk have all of the fun.

Cramer's Latest: Join the discussion on our

message boards.

When I see sessions like this I tend to chalk them up to some arcane rebalancing related to the expiration of options and futures on Friday. I don't sweat it. I use the weakness to rebuild positions that I might have let go into the frenzy.

Weird, I am drawn to the

Texas Instruments

(TXN) - Get Report

and the

Alteras

(ALTR) - Get Report

on weakness, with a level of conviction that would normally be reserved for the smug. But the confidence in the momentum of the business stays strong.

All in all a day of profit-taking, the type of day that people say lacks follow-through. To which I say, 'For crying out loud, what do you want from this market?'

Joe DiMaggio

only hit safely in 56 consecutive games. What happened in that 57th game? Loser!

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Texas Instruments and Altera. 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.