Looks like I picked the wrong day to chaperone the
Liberty Science Center
kindergarten field trip.
Today's session was plum ugly and had all of the appearances of forced selling at the end of the day.
I came in near the low -- which means I came in at the end of the day -- and felt the call was to buy them, betting that
could turn things around tomorrow.
Right now, Oracle is doing its part. It is trading up nicely -- but I don't know if the sell program/margin-selling finished. We don't know if we were finished with the selling we did, only measured buying. That means 5,000 shares of
every 5 points for us.
And we trimmed some of our recent buys that we had less conviction over and booted some stock that we had from recent secondaries. We used that capital to put to work in our favorite names, many of which were part of the carnage.
Now it is on to the Oracle conference call.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Oracle and Texas Instruments. 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