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Commentary: Wrong! Dispatches from the Front *New* Alerts! Please click here... 
Only problem is that I read these emails after an 8% move. I sent everyone who groused a polite "Sorry about the rally" note. Look, let's call it as it is. We got negative here and stayed negative for a long time. We always had shorts on. We said we took off a lot of those shorts at 2500. We took off the remainder of the shorts at 2200. We have no shorts. (Much to the chagrin of people who really think I had something on the line when I blasted CMGI (CMGI:Nasdaq - news - boards). You know sometimes I do this because I think I am right, not because I want to make a buck!) That's what you do when you think you are around the bottom. Understand that we can't call the bottom perfectly. Understand that we get things wrong all of the time. But understand that covering all of our shorts at 2200 is looking pretty darned good where I sit now. There is no precision to a bottom. But to blast us for buying into this weakness these last 25 days is almost comical. How good do you have to be around here? James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to send comments on his column to James J. Cramer .
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