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Hey, how about a little authentic auction gibberish? Nothing is more comical than the "read" of an auction, what people are saying about it vs. what is really happening. I regard it as gibberish because it is too early to tell and, more importantly, the bond futures are about to close because they don't trade by candlelight in Chicago (there is a power outage.)

In the bad old days, during the


administration, (that's a financial critique, not necessarily a political one), a quick decline in the bonds (and the futures) could signal total chaos ahead as there was an auction every few weeks. (An aside: Can you believe,


afficionados, how poorly Bush's people handled auctions versus


? The sad irony is that under Rubin,


(GS) - Get Free Report

couldn't make a dime on these auctions, but under


, Goldman made a fortune. But nobody ever brought that up. )

For me, I made those sales of fives and tens. I won't miss the stuff. In fact, I might buy it back another point down from here. Complacency? Nah, boredom. No


to strategize/joke around with.

James J. Cramer is manager of a hedge fund and co-founder of At time of publication, his fund was long Goldman. 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