Darn it, those margin clerks thought they could be on the 11:47 Cannonball to Amagansett on this daylight-savings-time weekend, but then
blasted the B2Bs and now the
-- that's the HOLDRs for the group -- and the related stocks are just getting slaughtered. That means margin clerks will have their work cut out for them in these high-profile darlings EVEN AS THE REST OF TECH HANGS IN LIKE A CHAMP.
They have some chopping to do, but it is discrete and shouldn't impact more than just the Net and the Net infrastructure plays. (As an aside, I think that there are some people who will probably be somewhat upset with the B2B call, namely the people who intended to mark up those stocks at the bell. That's too hard.)
We like the
. We are putting them on into this weakness. We have sold "exciting, esoteric and illiquid" to fund "boring, tangible and liquid" is another way to put it. Hardware over ephemeral may be the call.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned. 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