With the Booyah man himself all but throwing in the towel on technology stocks, his frustration is understandable but his conclusion is off. As I have posted, I actually think that tech will lead the broader market higher.

As Cramer admits, earnings have been strong for much of the sector. Companies like IBM (NYSE: IBM) and Microsoft (NASDAQ: MSFT) had great reports. So what if the stocks haven't spiked? The whole market has been a disaster. There are tons of stocks that have put up nice earnings and yet barely moved. All the more reason to buy into these tech names. Once we get a sustainable rally -- and we will get one eventually, I promise -- these stocks will soar, as investors will want to get into the strong growth names.

It may well be that the big tech names that had huge moves last year, like Google (NASDAQ: GOOG), will be soft but investors should keep their eyes on smaller tech companies, as those are really poised to make a run. Why? The first reason is because of strong earnings. The second reason is because of potential M&A. With many of these smaller companies seeing their values halved during the recent market rout, larger companies are going to move in and try and buy these companies on the cheap.

Jim, a little patience my friend, a little patience.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer has no positions in any stock mentioned as of 1/29/08