Not yet! Please, keep them down a little while longer. I could only get 10,000 of my fave Net plays, and as it is my first 10,000 I need them to go lower.
There you have a schematic of my mind. When you are positioned well you root against the stocks you love. When you are positioned poorly you root for them; you hope. There is no place for hope in trading.
This morning was the classic blow-off; futures drive the stock market down, then real buyers come in and the futures guys walk away. Problem is, it is only 10:15. Long day ahead.
Friday. Never know with Fridays. Which is why I am not taking stocks now. I got some good bites in when the market was getting crushed. Now it is lifting. Could be a fake-out, so I am not chasing up
, as much as it finally hit where I thought it would go.
But I am not selling what I am up on, and I am not dumping anything. We are nice and oversold, which I like. However, it is too glib to expect the market, particularly the tech market, to ramp right back. Too many
out there; too much disappointment.
Nevertheless, I saw some
article on the site about not buying on the dips and I didn't bother to click on it. I think it is wrong. Enough said.
James J. Cramer is manager of a hedge fund and co-chairman of TheStreet.com. At the time of publication, the fund was long IBM and Yahoo!, though 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 by sending a letter to TheStreet.com at