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To: orkrious who wrote (249393)7/10/2003 6:32:51 PM
From: orkrious  Respond to of 436258
 
Don't Worry: Today's Action Was Just a Small Squall

By James J. Cramer
07/10/2003 04:29 PM EDT
Click here for more stories by James J. Cramer

Profit-takers shot down this market from the get-go, knocking the Dow down 120 and the Nazz down 31.

Brutal session, as Yahoo! (YHOO:Nasdaq - news - commentary - research - analysis) failed to measure up to the superbulls' view, and Wal-Mart (WMT:NYSE - news - commentary - research - analysis) and Kohl's (KSS:NYSE - news - commentary - research - analysis) said sales didn't roar over the last week.


The market overlooked good news from Pepsi (PEP:NYSE - news - commentary - research - analysis), up a couple of bucks, and focused only on the negatives.

I call it a small squall. Nothing too onerous. If you haven't started buying yet, get ready to put some money to work tomorrow. We have a whole week of solid earnings ahead, with some bad news now priced in.

Perfect.