Information overload: One guy likes
, one guy hates it. One guy is happy with
. Somebody else is pissed off. Infrastucture disappoints; hand sets are strong. Wow -- go figure. Best man wins, and don't forget the power of options to pin the strike (Apple at 45; MOT at 70) because there is high open put/call interest in both.
In the meantime the Street is buzzing that some brokers are putting together unit trusts for Net stocks. That would amount to a bundling of Net stocks into entities that trade. I have done my best to try to track this down, but all I get are nebulous answers from people bent on keeping the whole thing secret.
That could explain, however, why
downgrade of three of the horsemen --
-- seems to be having no impact. Any attempt to batch these stocks will be tough as they trade increasingly in the most bizarre of fashion. It should cause a short-term spike in the group of strange proportions -- if it pans out. Just now someone comes in on
and bids for 60 plain little shares of Yahoo!! I mean, I have never seen anything like it. I feel like
, or maybe
with the North Koreans -- that great pitiful helpless giant speech!!
Anyway, I wanted to get this dispatch out to let you know what is driving things. Everything is totally dysfunctional this morning anyway because of Motorola's continued insistence on having its conference call before the opening, thereby tying up most of the tech/communications/semiconductor/ people in the professional universe.
James J. Cramer is manager of a hedge fund and co-chairman of TheStreet.com. At time of publication his fund was long Apple, Motorola and Yahoo!, although positions can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column by sending a letter to TheStreet.com.