This column was originally published on RealMoney on Aug. 3 at 11:58 a.m. EDT. It's being republished as a bonus for TheStreet.com readers.

So much for

Nike's

(NKE) - Get Report

bad quarter. So much for

Electronic Arts'

(ERTS)

bad quarter, for that matter. And so much for

Yahoo!'s

(YHOO)

troubled quarter, too.

One of the things that happens in a bull market is that you get pullbacks. The pullbacks are disguised as many different animals. Let's analyze these three pullbacks to see if we can't find something in common that explains why they need to be bought.

First, Nike actually had an excellent quarter. There were no flies on it at all, save valuation. When you review the business, much was on track or ahead of plan. But the stock suffered from a perception that the sneaker business had gotten more competitive. Now, the stock is

higher

after

Adidas

buys

Reebok

(RBK)

, making the landscape even more competitive. How can that be? Because nothing was wrong with the stock to begin with. Tough call up here to buy it now, though.

Electronic Arts fell because traders didn't do their homework. The shortfall was of the announced variety, and I don't know what more EA could have done to prep people; they still sold, like total knee-jerk players. EA was, is and will be a story about the new hardware that is rolling out over the next six months. Still time to buy.

Yahoo!'s the most interesting one. I, like everyone else, wasn't thrilled with

the quarter. But I still would be buying it, and buying it aggressively, for the reasons outlined in an excellent

Fortune

cover story: The ad business, which is good for Yahoo!, is about to get better, and the meager efforts to try to stop that by the print companies banding together will fail. Yahoo!'s an ad machine, with tons of cheap inventory that it can keep producing. It's a gift that Yahoo! is down ahead of what will be a revolutionary migration online by advertisers. Don't agree? Read the article yourself. It is the strongest piece of research in favor of buying the stock I can remember.

Image placeholder title

So, hold the Nike, buy the EA -- although I like

GameStop

(GME) - Get Report

more -- and definitely buy the Yahoo!. Those are the takeaways from these three gifts in the form of selloffs.

Random musings:

Microsoft

(MSFT) - Get Report

is now trading at March 2002 levels, if you add back the dividend. I believe that's important. It is an important stock, and it is

moving.

P.S. from TheStreet.com Editor-in-Chief, Dave Morrow:

It's always been my opinion that it pays to have more -- not fewer -- expert market views and analyses when you're making investing or trading decisions. That's why I recommend you take advantage of our

free trial offer

to TheStreet.com

RealMoney

premium Web site, where you'll get in-depth commentary

and

money-making strategies from over 50 Wall Street pros, including Jim Cramer. Take my advice --

try it now.

At the time of publication, Cramer was long Yahoo! and GameStop.

James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

ActionAlertsPLUS. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by

clicking here. Listen to Cramer's RealMoney Radio show on your computer; just click

here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click

here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click

here to get his second book, "You Got Screwed!" and click

here to order Cramer's autobiography, "Confessions of a Street Addict."