It's not just superstition that makes me nervous on the last day of the quarter -- 11 of the last 15 final days of the quarter have been down days for the
. Many of them down big!
So what am I doing about it? Not much. I
described to you late last week the way I trade
to the long side. I bought another large chunk of the stock earlier this week, and now I am scaling out of some of it, trading around the core position.
I am waiting on something like a
, hoping it gets hit at the close so I can buy some. I am holding on to my Net stocks and taking advantage of any weakness to buy. What does that mean? OK,
-- there is size to go. I am picking away a little at it, not aggressively, trying to build a position on the way down. (Gotta buy them when you can, not when you have to.)
What am I not doing? Buying any
. These two wounded tigers are simply not tempting to me at all. The owners of Philip Morris seem totally in flux (meaning the company is in bad hands), and I, like others quoted in
The Wall Street Journal
Coke article this morning, am surprised it is not down more.
And I'm trying to find out what the heck is wrong with
, too. I'll buy some stock if the answer is nothing.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Anheuser-Busch and Exodus, although positions 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.