Publish date:

Defusing Amazon.Bomb

Amazon.com should delight in the FTC's move to block Barnes & Noble from acquiring Ingram.
Author:

Does substantive news trump a journalistic hatchet job? In a few more hours, we will know the answer.

Anyone long

Amazon.com

(AMZN) - Get Amazon.com, Inc. Report

had to be feeling down when

Barron's

featured its Amazon.Bomb story on the cover. Shockingly,

Barron's

rehashes some of the better arguments that have wiped out short-sellers for years, offering the same depth of wisdom that has turned its readers' wealth into poverty during its 17-year jihad against higher stock prices.

I am sure the usual short-selling sources must have felt so triumphant all Saturday, Sunday and, glory be, that additional Monday of no trading, a three-day glow in the dark of the bear-den weekend if there ever were one.

And then, this morning, we discover that the

Federal Trade Commission

is going to try to block

Barnes & Noble's

(BKS) - Get Barnes & Noble, Inc. Report

purchase of

TheStreet Recommends

Ingram Books

, a wholesaler that supplies the book industry. For those of you short memory, the announcement of that acquisition, broken

here by fellow columnist

Herb Greenberg

, caused Amazon's stock to cascade a quick 15 points before it finally pulled out of its tailspin.

In other words, if it was bad news for Amazon when this Barnes & Noble acquisition was announced, it must be good news now.

So the bears, so gleeful, so positively

Pooh

-like after checking out some of

Barron's

honey, must now face a swift bullish incursion into the 100 Acre Wood.

I'd bet against

Barron's

any day. After all, what are track records for?

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

letters@thestreet.com.