Cramer: Market takes a breather
Jim Cramer | [email protected]
I doubt it. If anything, I think that the shorts will come out and bang down stocks hard because they sense that they have a chance to make back some points. The heavily shorted stocks will fall the hardest--and not because of profit-taking, but the same old gang-tackling.
I think that real sellers, volume sellers, aren't here and volume buyers are much lower, so we are in no-man's land. No earnings. No news. So this is just a breather where we extrapolate the good (Cisco) and the bad (Wal-Mart).
My takeaway: I want this breather. It is an opportunity to assess and choose. But I bet most people--except the shorts--will do nothing. They are just too scared to buy unless everyone else is.
Disclosure: Cramer's charitable trust is long CSCO.