"It's Not Destruction, It's Profit-Taking"
By James J. Cramer
04/08/2003 10:38 AM EDT
"Stop freaking out. Stop worrying so much. We are not seeing the characteristics of a market about to fall apart.
We are seeing the characteristics of market that is taking profits after a big run. We are seeing a market that is digesting the news from RF Micro and Accredo and Microchip, which, by the way, in the aggressive growth world are incredibly important. Should they be important? I don't think so. But they sure are.
I hate to seem complacent. However, you have to understand that some sectors are just awful and will remain awful, and those who own them have to be willing to take punishment. Otherwise, though, it seems like business as usual to me: just an unimportant selloff and digestion.
Go take some Pepcid, for heaven's sake. "
(in
www.realmoney.com)