Trashing a lot of idols this week. First it was
. (You know
my views.) Now they are falling out of the
These are stocks that people really own. This Gap will be another stock that will make me rue when I am at the deli counter at King's with a high number.
"Do you think Gap will come back?" Nos. 63 through 68 will ask me as I wait patiently with 73. "Gap's numbers ¿" -- let's see, how can I say this, what euphemism can I use, what can I say, how can I put it so it's not too harsh, how about, how about "stink?" Or maybe "stink to high heaven?"
Fortunately, Gap reports monthly and May is another month, to misquote
Gone with the Wind
. But I would be hard-pressed to own this one through because Hap, oops, I meant Gap, has something wrong with it. This is not the first bad month. In fact, this is what I would call a streak. You have to wait until the streak is further along to call a bottom. No one is that omniscient.
More importantly, Gap is drilling one more hole into the dike of confidence that individuals have created for this market. Too many holes and we can't come back as fast as we would expect.
: Sign of weakness: Neither
was able to hold its gains from
upgrades this morning.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Mercury Interactive. 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