Tech Unfazed by Dismal Dell
by Jim Cramer
That wasn't so bad, was it? This market is a slave to everything but earnings. Think about it: Dell blows up, and tech doesn't even get hurt. Why is that? Because options so pushed down tech yesterday that it was immunized. Fortunately, of course, people got wise to the ways of Dell, how second-rate this company has become.
To me, the story of the day remains health care. As we try to figure out how Blanche Lincoln is going to vote -- as if I actually knew who that was before this debate started -- the companies that keep rallying are all those that should be hammered! Merck has been so strong as to believe that it will get the Congressional Medal of Pharmaceutical Development, although Abbott is clearly a runner-up.
I am also struck by the continued rally in Monsanto, one that I think presages more...
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