People really wanted to believe in
. If they didn't want to believe in Microsoft, they wanted to believe that Microsoft was just being its usually cautious self. If they didn't want to believe Microsoft was being cautious, they wanted to believe that there was a conspiracy to show Washington that Microsoft is simply a pitiful helpless one-time giant.
. I just have my email. But my email Thursday night was so overwhelmingly of the "Cramer, you stupid bald-headed idiot for selling Microsoft at the bottom" type that I actually gave you the blow by blow of what
happened and why we sold at 76, 2 points below the close of that day's trading.
By Friday midday I had more than 40 "you don't know a bottom when you see one, dummy" emails, and another 30 that were of the "You caused the bottom, you jerk, I hope you never get back" variety. But I did get a few that thanked me for the heads-up and for the truth. How much easier it would have been for me to be able to write, "Usual cautious b.s., I am buying."
Alas, however, it would not have been true.
Anyway, I didn't get any emails today that said I was wrong. That's the greatness of this market. If you read my column you could have gotten out at 74. (Big market there after the call.) So not only was I right, but you could have acted on it with me.
Will Microsoft come back? Sure, someday. Was it worth selling? Yes. And that's all that matters.
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