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Fill in the blank: And when the boom ends,

    We will all lose our shirts. The economy will crash. The little people will be crushed. All of the naysayers will be right and revered as being gods. Who says it has to end?

The universality of the principle of a post-nuclear stock market drives me crazy. Understand that I am in the business of trying to find something that makes money. If I chose to let my business be ruled by the notion that the market is about to crash, it is very difficult to stay long the stocks I love.

Today, there is a new "era has to end" tale: the price of gold. I am steeling myself for a round of "Gold spikes like this when something is really wrong, and it always leads equities down."

Join the discussion on


Message Boards. To which I say, when a second-rate company like

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Placer Dome


decides it is not going to forward-hedge, that is a sign that Placer Dome doesn't want to forward-hedge -- and not much else. I am sure



will make similar noises today, because these companies all collude.

All day, I am sure we will see gold bulls on TV telling us that this rally is "worrisome" and signals "the end of the line." These discussions will climax with a crescendo of gold bulls and equity bears in the afternoon run on


, and by the end of the day, you will want to put all of your money in your checking account.

To which I say, don't take your cue from gold. It has simply ceased to matter. Own good-quality stocks you like. Worry about the fundamentals of the companies behind those stocks. That makes sense.

The rest is just noise.

James J. Cramer is manager of a hedge fund and co-founder of 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