And on the fifth down day, we decided that SAP's (NYSE: SAP) (Cramer's Take) butt getting kicked means the industry is faltering? This is the thought that went through my head when I saw SAP's disappointing news and its alibi that business is weak. That's why it stumbled. Of course, SAP's comments immediately took all of Europe down. Nobody said, "Hey, maybe it is SAP's fault because Oracle's (NASDAQ: ORCL) (Cramer's Take) kicking their butt." No one said, "Sure it is weak, because in the end Salesforce.com (NYSE: CRM) (Cramer's Take) got a better mousetrap."
Instead it is like what used to happen when Nokia (NYSE: NOK) (Cramer's Take) reported a weak quarter and everything related to cell phones came down until we realized that Nokia made too many dumb phones and not enough smart ones.
But when you are down multiple days, when you are now oversold, when you are near the end of an important month for hedge funds and fiscal year for mutual funds, maybe something other than an "SAP says things are bad in software, let's sell all tech" attitude should be warranted.
Remember, up openings get faded. Best advice I could give yesterday.
Down openings?
Intriguing.
Jim Cramer is co-founder and chairman of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. At the time of publication, Cramer had no positions in the stocks mentioned.
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Reader Comments (Page 1 of 1)
10-28-2009 @ 10:12AM
ebrandler34 said...
You are speaking in riddles lately. Where are the "use this as a buying opportunity" posts?
Either you are back on the bipolar meds, or you sense a correction that won't be so easily explained away with toots, gongs and whistles.
10-28-2009 @ 7:54PM
ebrandler34 said...
Stop gloating! You'll jinx the correction. Just be like Cramer ..."Intriiiiiiiiiiiiiguing"