The column was originally published on RealMoney on June 7 at 1:57 p.m. EDT.
Memo to those holding
: Get used to the lack of communication and hype from the chairman of the board, Eddie Lampert. He is a doer, not a hand-holder. He will let his public documents do the talking.
For many of you holding the stock, especially for those of you who own it having done no homework on it other than looking up the symbol, today's jarring decline on the
rather sketchy earnings reported will make you want to sell rather than buy the stock. The fact that I am not out there beating my chest, saying, "Here is the chance, buy it," most likely seems even more disconcerting.
I say, get used to that, too. I believe that Eddie Lampert is establishing the groundwork for a multiyear move that you can either be shaken out of, or learn to live with. Let's start living with it, this quarter.
Someone emailed me today and said that if the earnings are so confusing, maybe it's all smoke and mirrors.
I look at it differently. Lampert's merged two huge, disparate companies. He already has cut capital expenditures and started rightsizing Sears.
is now analyzing which Sears and Kmart stores need to be sold, and which new systems have to be put in place. To sell now, ahead of that news and the news that the ratings agencies are increasing the firm's ratings -- crucial to any retailer -- is just simple-minded.
Nonetheless, this is a crucial juncture. For some time now, I have been telling people to buy one share and then wait for the price break. I know this sounds like a rationalization, but down $10 on a stock like this, after such a run, is
enough of a price break to buy more.
So let the summer soldiers back up and go home. Let the sunshine patriots ring the register.
Me, I know the best is yet to come. I know there's a ton of good news ahead. I don't mind that this quarter, the first quarter of the mix, isn't the breakout. I have patience.
Get ready, RealMoney Radio fans! My
radio show is moving to a brand-new time on Monday, June 13. I will be on the air live one hour earlier, from 2 p.m. to 3 p.m. EDT, so be ready to call me then, at 1-800-862-8686! We'll still talk stocks, sectors and mutual funds, we'll still fix 401(k)s, we'll still play Am I Diversified?, Stump Cramer and the Lightning Round -- just one hour earlier! Mark your calendar and get ready to call -- I want to talk to
At the time of publication, Cramer was long Sears Holdings.
James J. 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
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