Go Ahead, Call Him a Weasel

Cramer's no rip-snorting bull today, even though he thinks the tape is great.
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Call me weasel.

Mark Haines

did this morning, and it kind of fit. I am not loading the boat up here. I think things look good. I like a ton of stocks. I think the tape is great.

I just don't have a lot of conviction.

Why am I on edge?

    We have had a great run. Now I want us to mark time. If the market were to drop substantially here, it would shock me, though, and I would be a buyer all the way down. Oil over $20 makes me feel nervous. I love it when the black gold is going down. I like it less when it continues to rally. Call me superstitious, but this July-August period is when people lock in profits every year to go to the Vineyard or wherever else people go, and I want to be ready with cash when it happens.

Nothing more than that. Nothing less than that. I was more bullish lower, and I will be less bullish higher.

Yep, call me weasel.

But if oil comes down and we are finished marking time and we start focusing on year 2000 earnings -- which I think will be great -- then I will lose the weasel tag and become a rip-snorting bull again.

Just not yet.

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

jjcletters@thestreet.com.