No More Game Delays With AOL!

The trader frets as the call begins.
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Right now, as I write, AOL (AOL) is halted. That means you can't trade it anywhere. Nobody will make a market in it. That's when I am really biting the nails. No trading! It's like a rain delay. I mean, why don't they just call the game? Or play it anyway? We are all professionals.

So we try to pick up clues. We see

Yahoo!

(YHOO)

trading up -- maybe that means things are good? (A real bid at 152.50.) But AOL's subscriber growth is low end -- do we have to worry about a

Henry Blodget

(the colorful

Merrill Lynch

analyst) downgrade because they didn't blow away his number?

Who knows?

But the Street is on tenterhooks.

No trading just makes it worse. And now the call begins.

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