Margin clerk's got his chopper out. Usual suspects being taken apart. To which I will say again: "When will you jokers on margin up here get whole and get smart?"

Does every last one of you have to be sold out of your positions by the ham-handed clerk before you realize that the game has changed and that high-octane stuff won't work any more?

When you see that kind of dramatic, ragged selling at the end, it means daytraders without portfolios and leveraged souls are getting out of the game.

What a shame. But the whole point of taking it off the table when things are good is that you don't have it taken from you when things are bad.

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Remember, this sets up the opening tomorrow as extremely important, because if the high rollers get crushed, there will be more pain.

What a waste.

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.