Can't be too oblivious to this
crack, now that it seems pretty definitive. I have a real Main Street versus Wall Street problem with the Dow. For example, my wife just called, all worried about the Dow crack. I reassure her that the action is in the
, and she comes back with "yeah, sure, but at what point is it arrogant to ignore that the nightly news will be focused on the Dow."
I am sticking by my guns that the NDX is a buy on weakness. But I am also sensing that we will have to deal with a plethora of headlines about the Dow being down 14% -- even as the
is up 13%. We want to see how those headlines play out. Monday may be a better time to put money to work. After we have digested the Dow 9000? Stories that
& Co. will probably be ready to dish out.
: We get a few more brokerage
surveys filled out, and I bet we will be the largest sample ever. That will be clout for those we like and pain for those we don't. I can't emphasize how much of a chance this is for you to speak your mind. It is funny, after all that has been said about us -- much of it wrong -- in the press, not one of those doubters would ever question our integrity. If our survey of our readers -- our customers -- slams our advertisers, I don't think that the advertisers would even attempt to stifle the heat. They know we can't be bought.
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