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Technology Stocks : TheStreet.com, Inc. (TSCM) -- Ignore unavailable to you. Want to Upgrade?

To: gaj who wrote (1631)	5/7/2004 4:09:31 PM
From: Jack Hartmann	Respond to of 1822

Market Smacks of Bearish Activity By James J. Cramer RealMoney Columnist 5/7/2004 2:37 PM EDT URL: thestreet.com Market Analysis We're seeing 'sell everything' activity. The market is going down on basically nothing. It shouldn't be able to sell off like this given how oversold it is. So we are in "sell everything" mode, are we? Sell the banks. They can't rally. Sell the cyclicals. They are done. Sell the minerals. They are going to get crushed from interest rates. Sell the oils. They are too high. Sell the techs. They are doing well, but so what? True bear-market activity. Sometimes I feel as if every marginal dollar is coming out of this market and going into real estate. I wish real estate were a stock so we could see how high it really has gone. I have watched this decline of the last hour with my mouth open, aware that we haven't seen such declines since 2000-2001 and again in the early fall of 2002, declines where the market can go down on nothing, just nothing. Because believe me, there really isn't that much happening. And the bounces? They don't happen at all. <b<This type of selloff shouldn't be able to occur with the market as oversold as it is. We have an anomalous tape with nothing working except the SPX puts. I keep picking away with little buys for my Action Alerts PLUS portfolio, but this market has such a horrible feel to it that every report you get makes you want to vomit -- unless it is a short report. Again, anomalous behavior vs. everything but the worst bear markets. Telling in itself. ************************** I think Cramer forgot that 255 drop in a week in the Nasdaq in April 2000. :P