This column was originally published on RealMoney on May 11 at 12:36 p.m. EDT. It's being republished as a bonus for TheStreet.com readers.
Ennui. That's what I feel. Do I really need to take up the copper stocks again? The same ones? How often can I buy
? Are we kidding ourselves with these endless ethanol buys?
Of course, the answer is that we may be sick of these stocks and they may not deserve our constant adulation, but when multiple expansion and momentum combine, you get some wild movements to the upside that force you to think to yourself, "You know what, I can't make money without these."
My style is to buy weakness and sell strength, so this market has become quite antithetical to me. I rationalize things by saying, "You know what, I will use the little declines to get in." Which means today, I can do nothing. It can be very aggravating, but I think chasing here is simply capitulating. I believe you have to wait for a better moment to pull the trigger. They always come. Wednesday was
moment. Today's a moment where some of the aerospace and mining material stocks are down.
I just don't want to succumb to the thinking that says, "That's it, I can't take it, buy me a ton of Peabody here."
As always, though, if you can't take the pain of not making instant money, buy a little and wait.
The worst that happens? The stocks still go up! Always an enviable place to be.
Finally, I would begin to nibble on the highest-growth metals stocks, including some of the higher-quality madcap -- that's mid-cap, to you -- techs that are down 10% from the highs.
Could be a good place to start.
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At the time of publication, Cramer had no positions in the stocks mentioned.
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