Playing the Reds, Broads and Blues

If they can just master the lingo, there may be hope for old-timer traders after all.
Author:
Publish date:

"The Reds aren't working," I find myself saying aloud, referring to the choppy action in

Red Back

(RBAK)

and

Red Hat

(RHAT)

.

"How about the Broads, they look good,"

Jeff Berkowitz

points out about

Broadbase

(BBSW)

and

Broadvision

(BVSN) - Get Report

, two stocks that seem to be levitating here.

Join the discussion on

Cramer's Latest

Or talk about Red Hat and the rest of the Red Hots

And the Blues, I ask, hitting up

Bluestone Software

(BLSW)

-- they are just doing fine.

Throughout this discussion I noticed, out of the corner of my eye, that

Matt "Dot-Com" Jacobs

was smiling with approval, nodding his 23-year-old head.

Maybe there is hope for us old-timers after all.

Random musings:

Never have I taken so much heat for a good call in my life as I did for that foot-race-to-100 call between

Applied Materials

(AMAT) - Get Report

and

Novellus

(NVLS)

.

Both stocks were in the 70s when I went on

Fox News Channel

and said Novellus would win the race.

Immediately the stocks tanked a dozen or so points and the hate mail cascaded into my e-box.

Sometimes, though, this game is all about heat, taking heat, feeling heat, giving heat. You have to have your shields up and can't lose sight that near-term action can be just plain wrong.

Of course, I was wrong about which stock got to 100 first, but all in all, it was a good call and I am proud that I made it on our

show . . . .

Progressive

(PGR) - Get Report

blows up again. Remember when that was a good stock?

Can you believe how poorly these value plays are working?

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of the original publication, his fund was long Red Back, Applied Materials and Novellus. 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.