Size IBM's trading at 102. Oops, check that, 101.
Now PAR! The big 102 print didn't hold. Man, that's nasty. Looks like
is going to go in the
camp, not the
Microsoft, Dell, IBM:
Join the discussion on
What happened? It is mainframes. Y2K and mainframes. Large institutional pieces are trading as I write and they are not holding.
comp weren't up 100, I don't think people would be so worried. But we just had a couple-day humongo run and a lot of stocks look vulnerable in the hardware segment.
We aren't tempted here. Hardware is just too hard.
seems to be stabilizing at 116 and
seems to be holding 80.
I have been hit several times by Amgen sellers even as I listen to the call and I don't hear the badness the sellers do. You can never be reassured by a call when stock is falling rapidly in
and these other after-hours shops. But I am taking the break as a one-day sale.
Collaterally there is a huge amount of stock-trading all over the place (meaning typically down a dollar) off of IBM, so those so inclined have a big menu to chose from, the most I have ever seen in after hours.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long IBM calls, Amgen, AOL and Sun Microsystems. 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