Got to bone up on the 'lenes to make money on a day like today. You know, polyethylene, polystyrene, polypropylene -- the stuff the market takes up when it doesn't like the Net. Either that, or you have to like stocks of companies that aren't doing well:
My take? Usually when you have a tape where the leaders sell off, the whole market goes lower. This is a market that makes battlefield promotions on the spot, moving privates to the rank of general on a moment's notice. Crazy? How about healthy. Bizarre, but healthy.
The strangest thing is that I will look at the
Investors Business Daily
mutual fund index tomorrow, and, on a day when the
hit records and the advance-decline is positive, I bet they lost money.
Now we wait for
the way we used to wait for
. (I take vacation for MSFT's earnings but not AOL's! Geeezzzz.)
And we wonder whether AOL will be restored to five-star status or is about to be sacked to brigadier general.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long America Online, Microsoft and Halliburton, 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