How do you know you are in a super-bullish environment? I think you just have to look at the action in
stock. This stock was up 6 intraday when news came out that it announced a 3-for-1 stock split.
The stock stopped trading and gapped up a buck. For the next two hours, every time
mentioned that Motorola was splitting its stock, the shares went up again! No matter how many times this news came out, it still was not discounted in the price!
Do you know how remarkable -- and inefficient -- this market is? Do you realize how much buying power is pent up that it gets put to work every time this piece of news is reiterated?
Now here's the real topper: A split doesn't even matter. A 3-for-1 split doesn't even matter. And we all expected it anyway! That's what I call animal-spirited!
When you see activity like that, you have to remember that the bull has tremendous strength here. And let it ride a little bit longer than you would otherwise.
? Someone is spreading that ridiculous rumor. Seagate owns a big slug of Veritas. I put that rumor in the "no way, no clue" category.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Motorola and Veritas Software. 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