Friday profit-taking after a big week. We shouldn't be strangers to this, should we? Think about it: How can you not want to take something off the table after this beautiful week for the bulls?
We made our sales when I penned that piece about taking something off the table. We haven't made a trade in 45 minutes. In fact
Matt "Jabil" Jacob
just went out for some
(during a period when Mister Softee declined a dollar!).
Oops, we just bought some
-- force of habit, I guess. And we are taking down some
calls, as a play against
Melissa Genome Kasper
(just kidding). We like the odds that Amgen doesn't go down much from here.
Johnson & Johnson
to the list of stocks that have more risk, less reward than a lot of the normal tech fare we traffic in. And we think the
negativity is way overdone and we are buying some.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Yahoo!, Amgen, Xilinx, Compaq and 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