Scrambling the Jets

Whoa! The macro numbers are bad and the trader will have to change his strategy in a big way.
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Got that wrong! I won't even try to claim that I was early.

These macro numbers are terrible and now we have to scramble the jets. They are terrible because the

Fed

will not get off our back, because these numbers are consumer price index-like and because the

Nazzdog

names will take a big dive.

We are ready for pain, but angry at ourselves for feeling that we could

game the downside of this number. I wouldn't be surprised if we bottomed out fast, but it sure would have been better to have waited. It will cost us some bucks that we didn't.

I am spending the next 30 minutes getting my head together to try to figure out how bad the damage will be and whether the losses will reflect those of Germany which is now down 2%.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned. 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.