OK, I tried. I tried to defend VeriSign. You see, we are long VeriSign and we are trying to deal with the fact that we are down 30 points from the get-go.
It is always painful when you start in the hole. We love VeriSign. The puff piece in today's
looked like candy to us this morning. We figured 255 in a flat tape, 260 in a good tape.
Now we are defending at 218 and getting whacked. Make that 215. Please don't hit me!
Darn it. Oh well. Keep buying. As Todd Harrison, our head trader, always says: "If you are going to be a bear, be a grizzly!"
It is funny. I will listen now all day to people who will defend this acquisition. I am sure they all will. And I am sure it makes sense. But in the end, I come back to the horror of being down before the bell.
I hate it.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long VeriSign. 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