Cramer: All I Care About Right Now Is the 10-Year

 | May 18, 2017 | 10:40 AM EDT
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They went right back to growth. Right back. The bonds stopped going up. The buyers came back.

The 10-year is calling the tune, and people are acting as if tech has more economic sensitivity than it really does.

The idea that tech can come right back seems a little glib. I know we are doing some trimming of a big win in tech to buy some down-and-outers, and I think the rally right back is a little glib.

All I care about right now, literally, is the 10-year, because the algos are totally in charge -- and they say sell when rates go down and buy when rates go up. Rates going up even a smidge decked the defensives. Rather amazing.

When you get a down opening with rates going down and then rates go up, that's a perfect move for the bulls, especially when the world's largest retailer leads the way.

But I don't want to get ahead of myself, because of the headline risk -- and because not having a little cash here seems a little reckless. Small buys, small sells seem right to me.

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