MCI WorldCom Sours the Pie

On a day when all the ingredients are there for a rally, WorldCom leaves the trader with a bad taste in his mouth.
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Spotty and inconsistent. With a dose of salt from

MCI WorldCom

(WCOM)

. Some of these days do read like recipes. Today we have lots of the elements we need for a rally: nice bonds, oversold markets, good talk from the

Credit Suisse First Boston

conference (well

covered by

Adam Lashinsky

), and some terrific pin action from

Yahoo!

(YHOO)

.

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But WorldCom tastes like a bad ingredient. A top-line miss would be rough on this stock. I don't want to get bigger in the name until Bernie Ebbers, the genius behind WorldCom, comes out and says this is all a big to-do about nothing. (That is, if it IS about nothing.)

WorldCom soured the whole pie!

That said, I still think we are on sked for a nice repast and I am sticking with my buys.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long MCI WorldCom and Yahoo!. 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.