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Be careful -- good news isn't working in technology. A bunch of Net infrastructure companies reported great numbers and they are all down. Some computer and semi companies reported terrific numbers and they aren't working.

The drugs and foods reported OK numbers and they are working big-time. It is still early, but we detect that the

Nasdaq

four-letter wonders will go down on any little pimple, any little worry. That makes those stocks too hard right now. They have to retrace. The auction/B2B complex has to retrace. The owners are wounded. The stocks act wounded.

By the way, one reason why they are wounded is that the lockup expirations just get worse and worse. New data from

Steve Galbraith, the

TheStreet Recommends

Sanford Bernstein

research analyst who helped me with my "

take it off the table" call, reports today that as heavy as March was, April is worse and then May is twice as heavy. That's too much of a gauntlet.

Silver lining: It gets better after that.

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.