Hold Onto Today

Remember today's lessons the next time the bears start swarming around you.
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Remember days like today the next time the bears come dancing out on our heads and telling us how nothing can go right. They'll also be singing about how we are trapped in a vicious downward spiral that can only be cured by a violent reaction lower.

No matter that today felt totally phony. No matter that it seemed like mutual funds were just in buying their favorite names to take them to levels where, even if they fell for two days, the quarter would still be fine.

No matter that tomorrow could be a tough day for

Coke

(KO) - Get Report

now that it reported some bad volume numbers. We had terrible numbers from

Kodak

(EK)

and the stock went up. Maybe we have to buy Coke tomorrow too!

If you wanted to sell, you could sell all you want, on the offered side (above the last sale). I was able to do that with everything I moved today.

Bottle today up. Put some of it in a safe place. Bring it out the next time one of these know-it-alls who would have us in lifelong checking accounts tells us that the public is about to panic because of Kosovo, or Seoul, or Beaver Falls for that matter.

And maybe you will trade better on the next big down day or week or month. I know I will.

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 the stocks mentioned, although holdings can 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

letters@thestreet.com.