Moves like GE's are exactly what I want to see. It told me that there would not be a correction. (You needed tells like this because
and his ilk came out and called for a correction today. Man, am I ever sick of him being so wrong. Jeannie, order me sackcloth just in case.)
You have to look for tells to add to your conviction because there is so much out there to subtract from it. In particular, the preopen SPX futures produced another false tell -- they so often do -- and the talking heads, who keyed off these futures, compounded the problem.
Two conclusions: Compaq should do some brooming. People should read
Don't forget my chat with the
Merrill man. I will remember my manners.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. 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 by sending an email to