The new new game: guessing what goes into the

Nasdaq 100

. With the trumping of the NDX over the

New York Stock Exchange

, comes, of course, the brigade of indexers who try to match that new benchmark.

So, last night was a night of rejoicing for

Gemstar

(GMST)

shareholders, including

Cramer Berkowitz

.

Join the discussion on

TSC

Message Boards.

I have to admit I didn't believe it myself. I was headed uptown when Jeff called me on my

Qualcomm

, hmmmm, I mean my

Kyocera

, and told me that he just sold some Gemstar up 12 because it got added to the NDX 100.

"Get out of town" was my reaction. "How could it move that much on this? That has to be a mistake."

But here I am selling more at 76 this morning.

Go figure.

Random musings:

Gary B. Smith

made my life pretty easy this morning by

confirming what my work told me about my

draft picks. Many, many thanks to all of you who weighed in on the boards, especially Tim Braman, who should have a team of his own.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Gemstar. Cramer's fund also may be long or short certain stocks in his B2B rotisserie league or Red Hot index. 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.