TheStreet.com's Jim Cramer says he doesn't want to make a move until he sees the action. We aren't oversold enough anymore, and we are up too much. Meanwhile, the next run is on the insurers, as we can tell from the erratic nature of the way that group is trading.
Oh, and what's the deal with Sallie Mae (NYSE: SLM) (Cramer's Take)?
There's not a lot of respite here in part, again, because of Lehman and the default of so much Washington Mutual paper.
We just aren't ready for what is happening yet, and we keep getting surprised about where the paper is. The rescue bill will help, but the pork attachments are so horrible that I believe, ex-FDIC, they have made it tougher to pass, not easier.
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