Cramer on $INTC, $QCOM and tech.

So they are killing tech after the bell. Just slaughtering it pretty indiscriminately.Take Intel ($INTC).

One of the reasons we sold Intel for the charitable trust is precisely this kind of action. It is sickening to watch Intel report a beautiful quarter and yet have it overwhelmed by line-item, nit-picking. But that's what happens each quarter when it reports. I imagine that at a certain point there will be so much money there that the company could pay a dividend equal to 5% if the stock stayed at these levels. In the meantime, it is scorned.

At the same time, those who bought Qualcomm ($QCOM) as a "play" on Apple ($AAPL) are dazed and confused because that company, too, reported a terrific quarter and all of the hot money came out of it.

Seagate ($STX) was just fine, but the cautious commentary is freaking people out and it is being dumped like there is no tomorrow.

Only F5 Networks ($FFIV) with a clear revenue miss was truly awful.

Such is the lot of tech in the summer when the gains can't be held and the selling comes in, something that you could see happening midday when VMWare ($VMW), which was the best quarter after Apple, couldn't hold, and EMC ($EMC) actually went negative!

The other day after I did a "Mad Money" piece on how tech will be seasonably weak, the sector had the audacity to go up the next day, even as I said it would be up, but you had to sell into the strength. That emboldened some to think that there was some sort of all-clear bell.

Now, when we see the chaos, we know there was no all clear sounded. I  remain convinced that there are a few good ones. I own them for Action Alerts PLUS. Other than those and a couple of net and cloud plays, I think it is just worth waiting until the seasonality is in your favor.

Then it will be time to buy this kind of weakness and not sell it, which I still regard to be the best course of action.