Breathe Deeply and Count to 10

Cramer knows that many people out there are kicking themselves for missing some big moves. But he warns not to put money to work in that kind of mood.
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Thud. Crunch. Splat. Ummphh. You know what those sounds are? That's people all over the world kicking themselves for not buying Qualcomm (QCOM) - Get Report ahead of the 4-for-1 split. It's the sound of people slamming their hands against desks for not buying the drug stocks. It's the sound of angry teeth grinding about missing the latest 30-point move in a white-hot infrastructure play.

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Message Boards. Good. Take it out that way. Don't go buying stocks if you are in that mood. You have missed some moves. Wait for the next moves to develop.

Don't put money to work out of sheer aggravation and regret. We are all remiss about stocks. We are all guilty of not being in the right ones at the right time. But that opening blast, supercharged as it was by people on TV saying it will be a big day, is a license to lose money. Cool down. Wait for the next one. Don't just swing because swinging yesterday would have been great.

This is still a good market. There will be plenty of opportunities. You like the drugs?

Johnson & Johnson

(JNJ) - Get Report

was at 106 the other day. Now it is at 104. A little lower, maybe it makes sense. You need a 600-degree name? Wait for a lockup to expire.

But don't put money to work while you are kicking yourself. Your foot will soon be in your mouth if you aren't careful.

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

jjcletters@thestreet.com.