Just when we thought the margin clerks took their kids to
for vacation after making our lives difficult last week, they are right back to work closing people out again. (Maybe making their closeouts from that phone booth next to "It's a Small World.")
By this time, readers of
should know that these clerks are butchers with dull knives. They have to hack and hack and hack to raise the cash necessary. And they go to work in the afternoon, when the selling accelerates -- which it is doing right now.
We have raised some cash to take advantage of the inevitable afternoon decline that
will now cause.
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