Will the headlines tell the story? Will tomorrow's papers talk about the stunning turn in the market? Or will they tell the truth and just talk about the stunning turn in the very narrow 30 stocks that make up the
Dow Jones Averages
Let's throw in another layer of difficulty. Are the overseas markets influenced by the Dow? Or by the
? Will buyers come in overseas because the Dow rallied? Or are they focused on the terrible action in
, to name a position that feels like someone just put a red hot Kingsford down my pants. Do the transports matter to the Japanese? Do the Europeans care that the banks rallied? Or are they taking their cue from
, which is the kind of epiphany I can do without?
Not clear, not clear at all. Which is why it is still too early to commit more capital.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Check Point and E.piphany. 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