Somewhere, someone is buying into a $35 billion valuation for Facebook, if it were to go public. I'm struggling with this. Let's be realistic. Google, Inc. (GOOG) has a market cap of $137 billion. Apple, Inc. (AAPL) comes in at almost $210 billion. Does Facebook really have 25% of the "goodness" (that hard-to-pin-down quality that translates to value) of Google? 17% of the goodness that is Apple?

That's a hard one to swallow.

Which way is the stock market headed, up or down? That question is on the minds of many investors these days.

We've a 50% run up since the January lows. Nouriel Roubini said: "Markets have gone up too much, too fast." I see the risk of a correction, especially when the markets now realize that the recovery is not rapid and V-shaped, but more like U-shaped.

I just can't believe it. It's just too funny. Cramer is back-pedaling on Google. I have such mixed emotions about this. I love many things about James Cramer; he gets people interested in investing, he brings up important subjects for discussion, he is entertaining, he is experienced and I feel confident he supports the small investor. All that said, he has really stuck his foot in his mouth this time....or should I say again? This is just hysterically funny, or maybe I'm still laughing at Pam Anderson (Pamela Anderson is a headline - not news - but SIRIus) on Sirius Satellite Radio, another recent Cramer pick --- hmmm? . If I don't stop laughing I'm going to fall off my soap box. Anyway, while there is much to praise about Cramer, over the last six months I think his stock guidance has been full of it. I probably should have just reissued The Cramer "Show" can cost you big!

Yesterday Jon Ogg reported about Cramer's three replacements for Google pointing out that Cramer is becoming tepid about Google (NASDAQ: GOOG) and recommending other technology stocks, as if owning some tech stocks is an imperative of some kind. Why you can't trade into some energy or utility or financial stocks instead is beyond me. In fairness to Cramer he does want his followers (listeners? disciples?) to maintain a diversified portfolio and that would include some technology stocks. Although I think aerospace and medical device companies should qualify, they do not in his view.