Darn

Dow

. Sure would like to see everything down to get the full whoosh capitulation. We have deployed some cash in old tech and wireless.

Recommendations are working. Good stocks are working. The panic selling is just fine.

Human fallibility keeps us from being bigger. We know the traders will flip out on the first blip up and that will fail. So why bother to put more to work here?

We wait for dislocation. What's the hurry? It's not even 10:00.

The Trading Goddess (my wife whom I traded with for seven years) would say, "Go take a nap. Get ready for the real show."

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. 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.