This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

The Five Dumbest Things on Wall Street This Week

With The Associated Press reporting that the ailing airline industry could lose up to $3 billion in revenue annually if these fare changes were widely adopted, we're reminded of one of the early scenes in the Clint Eastwood movie Dirty Harry.

Specifically, we recall the scene in which Clint Eastwood's Harry Callahan, chatting with a man who's threatening to jump off a building, explains to the man the big problem, as Callahan sees it, with suicide jumpers: When they jump, they grab hold of whoever's nearby to bring them along.

We wonder if that's Delta's strategy here, as far as the other nonbankrupt air carriers are concerned: If we're going down, we're taking you with us. Talk about flying United.

5. Bok Choy to the World

Over the past month or so on Wall Street, the usual dog-eat-dog atmosphere was all Peace on Earth and Good Will Toward Men.

Well, it was fun while it lasted.

By our account, the Spirit of Human Kindness on Wall Street officially ended Monday evening, Jan. 3.

And how did we pick that evening as the close of the holiday season? Well, it has something to do with what happened that night to TheStreet.com's ace options reporter Steve Smith.

Heading homeward after a long day of writing about Wall Street on Wall Street, Smith headed into a subway station carrying a plastic bag full of groceries: a little bit of salmon, a little bit of shrimp and a whole lot of bok choy.

Seeing a train waiting with its doors open, Smith jumped aboard -- but neither quickly enough, nor far enough into the train car to pull his bag completely aboard. The train doors closed, leaving Smith and the bag's handle on one side, but the bok choy on the other.

Bok, Stock and Barrel
Smitty's subway vegetable straddle

Now, stuck bags are a common occurrence on New York City trains. The standard procedure is for people on either side of the doors to push them apart a little, or for the conductor to jog the doors, giving the bag-holder a chance to drag the bag inside.

So what happened to Smith and his bag? Why, a friendly-looking fellow on the subway platform walked over to the closed doors and grabbed the groceries -- leaving Smith bagless and bok choyless on the inside of the train.

Yes, we hoped that that holiday spirit on Wall Street would last forever. But just like the options that Smith writes about, it has an expiration date.

Want to get your Five Dumbest in the mail? Sign up for a free Five Dumbest email alert by becoming a TSC member; the email contains the Five Dumbest article for that week, plus other select TheStreet.com stories. And as a TSC member, you'll gain access to a sampling of our premium RealMoney content. Click here to sign up!

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,424.85 +162.29 1.00%
S&P 500 1,862.31 +19.33 1.05%
NASDAQ 4,086.2250 +52.0640 1.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs