Publish date:

Maybe a Missed Calling

Let the bonds do their magic on equities, Cramer says, but we still need commentators who are unimpressed with the action.
Author:

Too cold outside to get water ices, as I like to do with my partner, Jeff Berkowitz, at this time every day. But we did it anyway. Because we don't want to do anything. We've got "Good Greenspan." We've got Knicks tickets for game five -- I know, could be irrelevant.

And we've got inventory.

Times like this, when the bonds are ramping, I say, just step aside and let the bonds do their magic on equities. Considering the amazing strength of yesterday's market, you have to marvel at the lack of profit-taking. I think people are still trying to put money to work, and I'll be darned if I'm going to sell them stuff right here. Not on a day when

Compaq

(CPQ)

blows to smithereens -- and goes up!!

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What we need, of course, are some commentators saying they aren't impressed with the action. We need some people questioning why we aren't up another 200 points if this market is so great.

When I was a little boy, on Father's Day some 10 gazillion years ago, I watched Jim Bunning pitch a perfect game to the

Mets

in the first game of a double-header. In the second game, Rick Wise pitched a six-hit win. I remember complaining to my dad why we didn't get a back-to-back no-hitter. I was disappointed with the second game.

I shoulda gone into business journalism. Full time.

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.