Cramer on BloggingStocks: Investors are rethinking their snap judgments

How about the techs? Does anyone recall why Intel (INTC) (Cramer's Take) stopped going up? Was it because margins aren't going up? No, because they are going up huge. Demand? Hardly, if you listen to Hewlett-Packard (HPQ) (Cramer's Take) or Dell (DELL) (Cramer's Take) for that matter -- yes, Dell. Microsoft (MSFT) (Cramer's Take) would tell you the same thing.

Apple (AAPL) (Cramer's Take) was getting hit off of China -- that's not true anymore, as the gray market is strong. For those who don't believe that can be, you only need to remember that China became Intel's best market other than the U.S. without any distributor at all. That missing Chinese demand fooled lots of shorts.

IBM (IBM) (Cramer's Take)? Wasn't it some issue with demand? That's forgotten about. Cisco (CSCO) (Cramer's Take)? It stalled yesterday simply because, well, some stupid seller laid all over it. There's no negative story there. It's a buy. It's a good place to go.

So many stories have temporary clouds on them for no reason. I see it everywhere. Cypress Semi (CY) (Cramer's Take) comes with a great number and somehow people feel the business has gotten soft! How about Nvidia (NVDA) (Cramer's Take), which put up a huge score ... but it had been dissed ahead and people forgot it. They are circling back now.

Many of the judgments to sell were made in haste. Others were made in keeping with the "We have seen the highs" rhetoric. Still others were made because analysts didn't want to give up the gains.

The circling back happens now because you can catch your breath. You realize that you might have sold an Apple because of the Motorola (MOT) (Cramer's Take) challenge, and now you feel downright silly and you are buying it back. Maybe you sold a retailer because of worries about the last week of October and you are now getting back in. People sold the housing-related stocks -- Whirlpool (WHR) (Cramer's Take), Home Depot (HD) (Cramer's Take), Lowe's (LOW) (Cramer's Take) -- because of worries about the expiration of the tax credit. Now those same people are coming back to them.

The silence from the end of earnings season is causing rigorous analysis to return where rigor mortis was the watchword -- death by too many reports. People like what they are seeing and they are realizing that as poorly as the U.S. might be doing, enough of these companies are linked to some sort of strength that was imperceptible a month ago that they just might be worth buying.

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 was long Cisco, Goldman Sachs, Home Depot and JPMorgan.