"How the heck do you stay long overnight?" So asked one noted hedge fund manager recently. Simple: It depends on the stocks. I love staying long
3M (MMM Quote - Cramer on MMM - Stock Picks) and
Bank of America(BAC Quote - Cramer on BAC - Stock Picks). I think staying long
International Paper (IP Quote - Cramer on IP - Stock Picks) is easy as pie. So is holding on to
Goldman (GS Quote - Cramer on GS - Stock Picks) and
Morgan(MWD Quote - Cramer on MWD - Stock Picks).
Pepsi(PEP Quote - Cramer on PEP - Stock Picks)? I love my little blue friend.
But tech? Tech reminds me of Kraken, that unbelievable roller coaster at
SeaWorld: It makes seven upside-down loops at speeds in excess of 65 miles an hour and brings you back to exactly where you started! It's funny, the stocks I like, you have to own them overnight. You aren't going to make five points overnight in
Ford(F Quote - Cramer on F - Stock Picks). But you have made about four points on a basis of $24, and that's the ride you want to go on.
Applied Materials(AMAT Quote - Cramer on AMAT - Stock Picks) and
Adobe (ADBE Quote - Cramer on ADBE - Stock Picks), on the other hand, are like Kraken -- with no Shamu upside! Go to a different theme park next time.
Random musings: Nothing the matter with a little hairsuit, dot-comers who make no profit. It looks better than the flashy smiles and the backslapping, and makes the losses go down easier, too!
Jim Cramer
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