Skip to main content

This column was originally published on RealMoney on Nov. 17 at 11:53 a.m. EST. It's being republished as a bonus for readers. For more information about subscribing to RealMoney, please click here.




isn't nuts. Not at all. Of course, this could be a little like the

New York Stock Exchange


in that the first few days its stock traded were nutty and then it went down and stayed down for a while because it made the Euronext bid. I don't think there's anything Nymex will turn around and buy right now, so you're safe from that risk.

We're all so revolted by what happened in dot-com land (

remember?) that we want to say "this is all baloney." I don't like that analysis. What that analysis says is that there was a stampede toward something worthless and we went and bought the worthless tulip, a la the Dutch bubble, hoping someone else would be even more stupid and buy it from us.

That's not the case here. This is more the case of saying, "OK, had I bought


(CME) - Get CME Group Inc. Class A Report

up 100% from where it came public, I still would have made great money." The comp is fantastic here. Plus the underwriters knew that the demand was much greater than this and they


you to make money. They aren't, unlike during the dot-com period, trying to get one over on you!

TheStreet Recommends

I urge you to think like this: Let's say the underwriters issued three times as many shares as they did at $19, and the stock opened at $44. Would you freak out? Maybe less than you are now. It still would be huge, but wouldn't seem as nutty to you.

Bottom line: I had said to let Nymex open and then buy it down. I didn't think it would open

this high. If I wanted 500 shares, I'd buy 125 right now.

Then I'd wait to buy more -- not today, not Monday, but a week from now. If in a week it's above where it's trading today, I'd buy 125 shares, and if it's below, I'd buy 125 shares. Then, if after I'd made my 125-share buy, it still was above, I'd call it a day. If it still was below, I'd keep buying until I got to 500 shares, using 10-point increments down.

If worse comes to worse, you'll have 250 shares of what will be a great stock of a great company. There are only so many exchanges. They have fabulous barriers to entry. You can ride this one as it raises fees and becomes more profit-oriented. And as wacky as it seems, it will work for you.

Random musings:

New book alert!

Jim Cramer's Mad Money: Watch TV, Get Rich

comes out Dec. 5. Even better, I've got all kinds of special deals for the book and Action Alerts PLUS and more, so watch the site. Can't wait? Gotta be the first one on your block to have it?

Preorder your copy on Amazon now.

At the time of publication, Cramer had no positions in any of the stocks mentioned in this column.

Jim Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, 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

clicking here. 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