Department of Silver Linings, how can I help you?
That's the phrase that keeps coming through my head when I see the action in the drives and the semiconductor index. These groups anticipated and led us down. Their telling strength seems to say it all on days like today.
I know, what kind of (*^$*$*$(^$(&$#%?^$@^%#@ moron looks at the needles when the haystack is on fire? And I come back and say "this kind of moron." Because I am not going to go in and start shorting
down here after everybody knows. That's like knocking the darn
down here. Not my style.
During this period my trading style has been to buy weakness and sell strength. But I buy strength of the weakness on days like today. That means
, drives, and yes, the hideous drillers that got knocked by that old bull at
, yeah the guy who loved them all the way down who now knocks them.
Hearing the usual rumors of a big Brazilian bailout again. Dismissed them two days ago -- see my
piece -- and bought Telebras just now when I heard it. Fool me once.
Back to the pillbox (literally and figuratively, given this flu).
James J. Cramer is manager of a hedge fund and co-chairman of TheStreet.com.
At time of publication his fund was long Telebras, 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 by sending a letter to TheStreet.com at