Don't you love it when the TV guys get skeptical about rallies? I have never seen a good rally ever be accompanied by anything but skepticism. The sources these guys must have most certainly have to be either short the market or true trend followers who NEVER want to switch direction on the first move.

All day today I heard commentators talk about how unconvincing this rally was and how phony it was and how it meant nothing. They blamed low volume for no confirmation. Or they cited weak advance-decline. Or they weighed in on wait-and-see.

WELL, THANKS A HECKUVA LOT! That's a real help.

Here's the deal. If we get a slow

producer price index, we are off to the races. All of these talking heads will be talking about how great this market will be. That's

value-subtracted if you ask me.

Random musings:

Good to see that

SDL

(SDLI)

can do something the market likes. That's an important tell because every other merger has been greeted with aggressive selling ... Can we short this

Williams

(WMB) - Get Report

yet from these ads, or is business still too good?

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.