In a market in which virtually nothing holds true, it is nice to be able to game at least one day in a quarter. Sure enough this day was, like so many last days of a quarter, a total stinker.
Also like so many last days, it started strongly and then faded. That kind of fake-out always leaves a bad taste in the mouth. Nasty.
I didn't see anything really salient today. The most important insight: If you were short
because you heard there was a negative Heard on the Street column, you got annihilated. This is the second time you had to go the other way from the
on a piece about the stock. Go figure.
And for fakeout of the year award:
. It blew up while it was going up 2 points. Here's an ethics question for you: If you are a mutual fund that owns SGI, do you get credit for a $16 close when this stock will clearly open down big tomorrow?
I bet every fund takes a $16 close.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At the time of publication the fund was long AOL, though positions 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 by sending an email to