Not an Easy Net Day

And don't believe the pre-conference-call trading on Yahoo!
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If you believe the before-conference-call trading in Yahoo (YHOO) , I can offer you tons of shares in the bridge that I can see from my Eastern window.

Yeah, everything looks solid with the quarter, but the three things that drive stocks right now are growth, execution and GUIDANCE. We need to hear the guidance. That's what you get on the conference call.

Not an easy Net day, or as my partner

Jeff Berkowitz

said, "You know what the Net showed me today? It showed me it goes down too."

Hmm. Tuck that one away.

Want to get this out before the call begins just to say that if you are trading Yahoo! right now, what the heck are you trading on?

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

letters@thestreet.com.