Feeling the Trading Pain - TheStreet

Feeling the Trading Pain

The trader takes his own advice and buys Sapient. Also, feeling the pain in AOL and Colgate.
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Took my own advice today and bought some

Sapient

(SAPE)

. I figured that if

Viant

(VIAN)

could roll, and

Scient

(SCNT)

-- where I was buried alive in secondary stock -- could roll, then even Sapient might hit the comeback trail.

Join the discussion on

TSC

Message Boards.

Remember, when Sapient reported, it did not blow up; it simply didn't guide numbers upward. Yesterday I talked about buying at the maximum point of pain and how that Sapient decline had to define pain. I guess it did.

Where else do I see pain?

America Online

(AOL)

, which is why I bought a little of that today. And

Colgate-Palmolive

(CL) - Get Report

, because while Colgate won't knock your socks off, its quarter was hardly disappointing and it is a superbly run company.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long AOL, Colgate-Palmolive, Sapient and Scient. 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

jjcletters@thestreet.com.