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Bears Look Bamboozled

By Jim Cramer

 About this article:
 Maybe the bears are off their game. They have the SAP and AMD ammo and they can't get anything going to the downside. How about the fact that the Morgan Stanley High Tech index (MSH) has been up most of the day? Away from tech, the 10% of the S&P 500 that is oil -- now important enough to help the market when it rallies -- is holding in much higher than can be expected, given where crude is. The Oil Service HOLDRs is 10 points too high, to use the analogue to the 2005 levels that we're in now. The weakness is contained to the poor performers that preannounced and their immediate brethren plus soft-goods companies Coke and Altria, both of which I'd buy. Benignly positive session. The bears must simply have had their heads beaten in and are doing nothing here. Random musings: I've found your new favorite...

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