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Cisco (CSCO) sequel? Got our stock back. Once that Nasdaq program subsided, the stock lost its fluff and allowed us to recover our sales.

All right, I know, I know, jargon central. Programs? Aren't they things on TV or something you have to get with?

Isn't recover something you do after you've been hurt?

Oh boy, is this rough stuff, and I have no desire to be any more technical than I am.

Join the discussion on


Message Boards. (By the way, the other day when I was in

Eastern Mountain Sports

, I was conscious that when you are technical in winter climbing, you appeal only to that crampon/ice ax minority, but when you are broad, you appeal to the rest of the store. And yes, I used to winter mountain-climb, much to my late mother's chagrin.)

So why keep talking about buy programs, these attempts to put money to work in an instant? Because they move stock. I can't believe how many "amateurs" told me via email that I was out of my mind and that the programs couldn't possibly influence the trading on a billion-and-a-half-share Nasdaq day.

And I can't believe how many derivative traders applauded my revealing of what was really going on today.

Understand that when you do a concentrated buy of billions of dollars of a stock even as big as Cisco, again, what a program is, you can take it to a place that nobody thought it could go. Understand that if that program came back, Cisco would go even higher. I was grateful that the program disappeared long enough to be able to bring the stock back (recover) that we sold yesterday.

Now I can relax. Got my Cisco back.

Random musings:

What a pleasure Erik Gustafson is when he is on "Buy, Sell, Hold" or whatever they call it now on


. He is not afraid to tell the truth.

James J. Cramer is manager of a hedge fund and co-founder of At time of publication, his fund was long Cisco. 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