Justifying Today's Work

There's no sense pretending it's a big day, and Berko's already out the door.
Publish date:

If it were a tad nicer both outside weather-wise, and inside bond-wise, I'd close the office right now. No use pretending it is a big day, or a big number, or a big anything. We have a good tape, and this might be the very day where I violate all the rules and bolt out of here like a bond guy.

Not much cooking. I think the


(NOK) - Get Report

upgrade from

Morgan Stanley

works, and I am taking some stock in Finland. I am not freaking out about


number cut on



, because it is acquisition-related and brings it in line with the rest of the Street.

I am not long the gambling stocks. They are a scourge and I never play them, but they are looking down.

I can't believe


(MU) - Get Report

is looking up because of a production problem at Micron that has moved DRAMs up in price. But then again,

Phelps Dodge

(PD) - Get Report

cut copper output, and copper went up and so did the stock.

These moves smack of people trying to justify being here today, which is pretty much how I am feeling.

Oh, and please stop emailing me about some plot to drive down

General Magic


. My

comments were strictly historical. All I did was admit that I screwed up in buying the darn thing. Gee, candor wasn't rewarded in that one.

And there goes


-- out the door!!! Not as fast as out the

window, but a lot safer.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Nokia and Broadcom. 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