Canelo's Can-Do Rally

Cramer's thankful for the Morgan Stanley Dean Witter strategist's accurate rally prediction.
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What was that bear case again?

I want to credit Peter Canelo and the folks at

Morgan Stanley Dean Witter

for this rally.

Canelo, who is a fantastic strategist and makes you a ton of money, was right yesterday in calling this latest ramp. This morning I was swamped with bureaucratic nonsense and couldn't turn to Jeff, but my unbelievably good broker Ray -- and I won't mention his last name because I don't want him stolen by another firm -- pushed me hard again. Heck, he pushed me three times, saying Canelo's got the hot hand and reminding me of the good news in semiconductors and Net issues.

Boom! Great call.

As someone who used to make those calls for a living and typically found they fell on deaf ears, I'm pleased to see that there are still people who reach through the muck and say, "Jim, this one has legs."

My Morgan man did that today. Made me real good money.

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

jjcletters@thestreet.com.