Futures down big. No follow-through in Europe. Talk of ground troops.
Is yesterday a do-over?
Oops, I have bad news for the bears: You only get do-overs when you play with children.
Kosovo's not going away. It will dominate the news as long as there is no backdown in Yugoslavia.
For me, I am taking an optimist's view of the situation. Today, before more bombings occur, plenty of people will want to move to the sidelines. The talking heads' new rap is that we are now all too complacent about the bombing and the crisis. (As opposed to before, when we heard that the Serbs were a super-de-duper Iraqi Republican Guard with 82 airborne training and SAMs in their back pockets.) We are not pricing in a long horrible war, and we are being foolish.
Sometimes I just wish these newspeople would just drop all "objectivity" and say, "Look, I am not allowed to own stock. I have seen all of you make a &^$*@# fortune in this market, and I haven't made a dime. By gosh, I am going to do my darned best to bring this sucker down so at least you'll make less money."
Then again, if they quit, who would sell anything to us?
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 email@example.com.