Buying Ahead of the Turn

You can only wait so long to get long, even with the uncertainty introduced by world events.
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Editor's Note: Jim Cramer's column runs exclusively on; this is a special free look at his column. For a free trial subscription to, click here. This article was published Dec. 3 on RealMoney. This Gaza war news reminds me of the day a few Mondays ago when the airplane crash occurred in the Rockaways. It took people by surprise, and certainly showed that there is uncertainty. Today we had a deliberate retaliatory action by the Israelis; that plane crash was a mechanical error. But both exogenous events made people sell, and I believe the sellers will soon regret those sales.

I think it is reasonable that we now get the



fallout that I thought we should have gotten last week. The liabilities are huge. (Tonight Larry Kudlow and I will be discussing Enron on


"America Now." Larry says he believes, in part, that Enron's problems were market-related; I think there was the possibility of chicanery.) I think the KBW bank index still has some weakness ahead of it, as

that bankruptcy works its way into prices.

But I think that you have to buy some tech ahead of these meetings because things are getting better with personal computers. Nothing's ever going to be perfect. We can wait until everyone knows that things are better in personal computers. Or we can wait until we are sure that the Israeli-Arab situation is resolved.

Or we can buy ahead of when the markets turn, which could happen later in the week when we focus on the big tech meetings coming up, including


(SUNW) - Get Report



(CSCO) - Get Report



(INTC) - Get Report


James J. Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. At the time of publication, Cramer was long Cisco. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column to