Nasdaq Breakout! - TheStreet

Nasdaq Breakout!

The index ramps, even with the Fed and even without Mister Softee.
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Nasdaq

breakout!

What a day! And to think that at one point, when

Greenspan

's text was released, I forgot

Matt "Dot-Com" Jacobs'

rule that the

Fed

head can't hurt tech and we almost forgot to buy!

Gee, does the Chairman have no impact on the stuff that is most inflated? And can he hammer retail and the banks.

It's not supposed to happen like this, needless to say. The betting money had it that the Nasdaq would collapse after last year's ramp.

Wrong!

And this time it's doing it without

Microsoft

(MSFT) - Get Report

. How often has that happened? Mister Softee is simply not participating.

How far will it go?

Let's just say that the shorts were saved by the bell.

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