The majority of technology index components—more than 63 percent—are trading down more than 10 percent from yearly highs.» Read More
The bulls are still in charge, for now.
Cramer makes the call on viewers' favorite stocks.
The first days of the New Year bring Citigroup's Citi Investment Research Top Picks: The bank polled each of its fundamental analysts on a single best money-making idea for 2008, with the option of an additional small-cap pick. Citi says its 2007 list produced an average share price return of 16.7 percent, well ahead of the Standard and Poor's 500 average of 4.2 percent.
Stocks closed higher as investors were encouraged by strong earnings reports despite lingering subprime concerns. "There wasn't much negative news today from the subprime market and people still want to buy the market," said Todd Leone of Cowen. "We were way oversold and I think you have some people putting money to work."
Fiser , which sells data-processing technology and services to the financial industry, said Thursday it would buy CheckFree, an online check and bill-paying company, for $4.4 billion.