It's Undeniable: The Cynic Has Returned

Everybody's popping Red Hots, it's a good tape and the trader's glad to be back.
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How underinvested was everybody in this market? They are throwing capital at this thing hand over fist. They want tech. They want drugs. They want financials. They don't want cash. Cash is a toxic trash sandwich washed down with a nuclear waste milkshake.

Most of all they want the

Red Hots. I was shocked, repeat, shocked, that the momentum funds allowed

Brocade

(BRCD)

to be down today. I mean, what is the deal? Could there be a broken water fountain at Brocade? Did someone park in the wrong parking spot? Was there a glitch in one of the brocades? Can't believe someone didn't reiterate buy on that one. Heck, these stocks aren't ever supposed to go down.

Ah, 20 years of trading has made me too cynical. This was a darn good day with a darn good tape. I'm thrilled. Period.

It's good to be back.

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.