Where are the sellers when we need them? Every stock I want to buy is up six bucks this morning. Every one. Unless insiders have some stock ready and willing, as is the case with
Internet Capital Group
, there is no supply. It is amazing. All of these little stocks that were so heavy just a few weeks ago are on fire this morning.
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Every desk on the Street is scrambling for merchandise. You can bet that the syndicate departments will be hard at work trying to print some secondaries as fast as possible. But at this moment I don't see any supply.
Amazing. Where there are secondaries and insider selling, the stocks can't be given away. Where there is no supply, the momentum guys are piling in and the mutual funds aren't selling.
Recipe for higher prices.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Internet Capital Group. 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