shake-up creates two camps: one that thinks people will get shook by his problems -- that's the camp that is knocking the


down (to be simplistic) -- and one that thinks that there are buying opportunities because of it -- the



I'm in the latter camp.

We continue to believe that tech has bottomed and that it is time to get longer tech on weakness. (We are not buying the cyclicals or the financials and don't want the drugs save

American Home


and small amounts of


(PFE) - Get Report


I think it was interesting this morning that

Gary B. Smith

, our excellent technician, actually suggested a scenario where he would go bullish. I am operating, as usual, under the assumption that the fundamentals are good on many of these Nasdaq companies and I am agnostic on the technicals.

Given that we buy stocks on weakness around here, we probably will not be able to buy another round until the market goes down. But we will be opportunistic. What does that mean? We are buying

General Electric

(GE) - Get Report

right here because it is down a couple. Same with




Random musings:

I love this


(AMZN) - Get Report

debate raging in

Herb's stuff . Remember

the "Last Man Standing" defense is an attempt to get into the heads of the buyers. That doesn't mean we are buying. We aren't.

James J. Cramer is manager of a hedge fund and co-founder of At time of publication, his fund was long General Electric, American Home Products, Pfizer and EMC. 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