There's always something that's not right. Earlier in the year, gold was rocking; that scared the bulls but good. Before that, there was a huge run in the cyclicals and the down-and-dirty commodities. Quite worrisome.
B2B Plays: Join the discussion on our
message boards. Now it's oil. The moment crude dropped 25 cents, we were all over it, wondering whether to buy more
, wondering whether to buy puts on the
, wondering whether the banks could turn.
We don't want oil to go up any further. It will make our long-side lives miserable going forward because it will begin to affect the producer and consumer prices. That means we will have
Big Bad Events that could derail us, as well as a
that will have to be more vigilant than we would like.
Still, I don't want to get into the habit of trading off these futures. They are not the stock market. They don't correlate with the stock market. I don't want to be spooked out of the market by them.
We must always worry about a renegade commodity. Its effect on the bond market is and will continue to be negative. But we must never allow it to blur our vision toward buying hyper-growth stocks on weakness. We know that the buyers of these stocks don't regard the fortunes of these companies to be bound by oil -- or interest rates for that matter.
Keep weighing on your favorite
B2B picks on the
message boards. Already
Matt "B2B" Jacobs
and I have agreed to enlarge the draft pool to 12 names. And we anticipate ticker boards on all 12! ... I hear there's an upcoming
hatchet job on me. Haven't had one in a couple of months in
, so I guess I was due. This one is about how I held on to a stock for too long and gave up a big gain. I figure next up will be how I left a huge amount on the table in some other stock I discovered. I find the press about me fairly amusing. I had no idea what a bad guy I was until I got a couple of bucks in my pocket and started making noise about the status quo in the brokerage business and financial reporting in particular. Now I can't pick up a newspaper or magazine without finding out what a cad and a fraud I am! Hoo-hah, glad I didn't know about this earlier. I might have been deterred and sought failure and anonymity! Darned arena.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long United Parcel Service. 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