Waiting for Greenspan

Cramer is a little bothered by this Fed-watch week, but he's got a few tricks up his sleeve.

Author:: Jim Cramer
Publish date:: Feb 14, 2000 6:58 AM EST

Creepy feeling about this week. Too many

Fed

governors and too much waiting for

Greenspan

for my tastes. Nonetheless, I am not too concerned. I think the money that is flowing in will cushion any big decline. I think the selling in

Microsoft

(MSFT) - Get Report

and

Cisco

(CSCO) - Get Report

got overdone and they seemed ripe for buying. As was

Texas Instruments

(TXN) - Get Report

Join the discussion on

TSC

Message Boards.

What bothers me, though, is the sameness of the stocks that I am drawn to. They all have the same characteristics and are leveraged to the same customers. For example, I took home all of the work on

Agilent Technologies

(A) - Get Report

and it sounds great

except it is leveraged to everything else in my portfolio

: Wireless, semi equipment, high-speed Net access, all of the usual suspects.

But when I look at the landscape, I would much prefer buying Agilent near the high than speculating that I can catch a bottom in a

Kimberly-Clark

(KMB) - Get Report

or a

Ford Motor

(F) - Get Report

Oh, yes -- and the financials. I am still there, with my

Chase Manhattan

(CMB)

and my

Goldman Sachs

(GS) - Get Report

, but this is the kind of Fed-watch week that makes the financials a tough row to hoe.

As originally published, this story contained an error. Please see

Corrections and Clarifications.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Chase Manhattan, Cisco, Goldman Sachs, Texas Instruments and Microsoft. 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.