They are now smacking
. As good as it looked, the revenue number didn't meet the recently raised figures from some of the last bulls who spoke on the name.
is coming in because there is nothing near-term to get people excited about and the revenue estimates are probably too high.
seems trapped at 60.
As we sit here and listen to these calls, I keep mulling over an incredibly mean-spirited email from someone who accused me of fabricating my buys on Friday afternoon and blasted me for being an "unbridled idiot" for taking some off the table today.
Oh, I don't mind the unbridled idiot stuff. There seems to be a fairly large "Cramer is a loudmouth idiot camp," and it doesn't shock me that this reader is a cheerleader for that camp.
What does bother me is that we didn't have enough stock on today, having sold too much, so I actually took the reader's criticism seriously. We did take too much off. We misjudged the strength today. We didn't think, with
down, that we could have a rip-roaring day.
We were bullish enough to be long, but we were too guarded in the end because we were worried about the companies that reported after the close. We were worried because the stocks had run ahead, which ratchets up the risk. What got me steamed about this letter was that the writer basically said that I wait to see which way the market goes and then I say I got the direction right.
I am so out there, so revealing of what the heck I am doing that I can't make a mistake without getting hundreds of emails blasting me for it. I can't make a move without someone knowing it. When I am taking things off the table I am quite clear that I am taking trading stock off, and trading around my core longs. My taking things off the table today looked wrong all day. Now that I am hearing these calls, it doesn't look so wrong.
My buys on Friday -- and
I had them, believe me -- seemed wrong then. They were right on Monday. I hid nothing.
My goal is not to have you do what I do. And it is not to convince you to buy or sell stocks. That's what brokers do. I did that at one time. Believe me, if I wanted to do that I would go back to
where I could make a fortune doing so. I don't even get paid for working for
. Sure, I own stock, but I paid for every share both in capital and in sweat.
As those of you who read me regularly and know me, I am a distinctly human voice keeping a diary that you are reading. I got this idea from a diary I once did for
and I have been doing it now for more than three years. I don't know about you, but I don't lie to my diary. What the heck is the point of doing that?
Occasionally, particularly on Fridays when I do free personal finance pieces, or today, when
I decried margin, I step out of the diary mode to try to teach something I think is important.
But mostly, I am just telling you what I am doing and thinking. If you don't like it or if you think I am a charlatan, what the heck are you reading me for?
Anyway, today I sold stuff too soon. To have done that, and then to admit it and then to read how I don't ever admit that I do anything wrong, seems like the triple whammy to me -- and I don't like the triple whammy for sure.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, Cramer was long TheStreet.com and his fund was long TheStreet.com, AOL and Intel. 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