You want to make a bet that this cyclical rally peaked today with two upgrades of
? I am not a believer in investing based on irony, but it is inconceivable that people who got you out of a stock at 38 can get you in a stock at 55 and have you make money. Just inconceivable.
Talk about a humbling day! Analysts who have hated cyclicals all year were all over town today telling us that we had to buy these stocks. No thanks! If this were basketball these guys would be saving their best stuff after they got eliminated from the playoffs. (Bunch of Iversons.)
What else did I see today besides the usual Net lunacy? I saw a level of volatility that made me feel like Regan in the Exorcist, sans green vomit. To which I say, get used to it, Dimi!!
Philadelphians, at least I didn't buy
, which blew up after the close for what seems like the 4 millionth time. No krimpet jokes.
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 the stocks mentioned, although holdings 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 at