This column was originally published on RealMoney on April 4 at 1:41 p.m. EDT. It's being republished as a bonus for TheStreet.com readers.
Don't get angry, get even. Right here, right now I know, if I were back at my hedge fund, I would be buying calls on the up stocks, unable to resist the pressure any longer. I would be buying calls on
, all levitation stocks that attract a tremendous amount of money every up session.
I would also take a look at
Black & Decker
( BDK) and now,
T. Rowe Price
, which has gotten the big-time halo.
I would also be taking advantage of the bear raid and getting into
I would put half positions on right now -- whatever that half position is for you -- and I would use the first strike down and out three months to make it happen. I would then wait for a decline, but it isn't evident when the decline will come, so you have to go out further than near term.
I would then say to everyone at my hedge fund that I now have enough upside protection if this market keeps ramping.
And I would no longer find these stocks as repulsive as I now find them given how strong they are.
P.S. from TheStreet.com Editor-in-Chief, Dave Morrow:
It's always been my opinion that it pays to have more -- not fewer -- expert market views and analyses when you're making investing or trading decisions. That's why I recommend you take advantage of our
premium Web site, where you'll get in-depth commentary
money-making strategies from over 50 Wall Street pros, including Jim Cramer. Take my advice --
At time of publication, Cramer had no positions in the stocks mentioned.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click
here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click
here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click
here to get his second book, "You Got Screwed!" and click
here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by
TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.