No flies on the Amazon (AMZN) - Get Report quarter from the basics. Revenues were great, high range, like the customer count and purchases. Three hundred million dollars would have been terrific. Two hundred ninety-three million dollars beats the top guy, which is as good as it gets.
So, AMZN joins
in being as good as it gets. Will the selloff continue then as these other stocks went down after great quarters? I'm back in the badlands here, watching all the Net stocks trade off a couple of bucks and Amazon huddled at $186, down six and the call hasn't started yet.
One thing is for certain, the griddle is as cool as it has been when I have wanted to take bigger swings at the Net.
and I just strategized for the four millionth time. We want to buy the dislocation of the Net. Not right now when the shorts are leaning on the stocks in Instinet and the sellers are still out in force. Tomorrow. When it is most ugly.
That's our plan for now.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long eBay and AOL, 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 at