I won't sell my Online if you won't sell your
Yeah, it is that kind of day. A real prisoner's dilemma. As long as we all hang together and don't sell, we will have one dynamite day. Of course, you could say that is the case every day, but on the last day of the year it is most poignant.
On my screen this morning I saw somebody trying to mark down
and I went in to buy it, knowing we have the split (next week) and the report on Christmas sales ahead of us. I also saw Yahoo! being marked down and I rushed in to buy that.
Both sellers were phony. There was none for sale. Just some anti-Net joker trying to cause some pain. Pro-Net guys like me are saying come and hit me. Did you see the Yahoo! and Amazon go from red to green on your screen. That was just little old me trying to find those bogus sellers.
Each morning I see these games played. I usually let them go. But today, I am stepping in. Whack me, Yahoo! sellers! Hit me, Amazon-haters! I have room. And I am ready.
: Be aware that the
addition to the
could cause selling in some other big names, as AOL is replacing
. Index funds will have to sell other names to get the funds to put away the AOL.
James J. Cramer is manager of a hedge fund and co-chairman of TheStreet.com. At the time of publication, the fund was long America Online, Amazon.com and Yahoo!, though 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 by sending a letter to TheStreet.com.