A Gift from the Gods of Capitalism

Cramer gives thanks to all those who had a hand in driving Yahoo! to the stratosphere.
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A 348 close for

Yahoo!

(YHOO)

! Now that's a stock.

Join the discussion on

Cramer's Latest and on our

Yahoo! board

.

No, that's better than a stock: That's the biggest kiss the market has ever given a stock. It's a gift from the gods of capitalism.

Thanks

McGraw-Hill

(MHP)

! Thanks index funds! We love you!

Amazingly, as it went up, you had to buy more if you were an index fund, as it represented more and more of the

S&P 500

.

And they call it investing?

Now the hangover begins. I just bought a little stock down 5 from that close. If history serves me, that will prove to be too aggressive and we should wait.

But history is bunk in this market, so who can take a chance that Yahoo doesn't announce a split!

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Yahoo!. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may 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 at

jjcletters@thestreet.com.