This market is so stupid I'm thinking about taking that 23,000 Witco (WIT) - Get Report at 13 and five-teenies and betting that some bozo comes in and takes me out of it a point higher thinking he is buying Wit Capital!
Not only does this market take up anything Net, it even takes up things that look and act and feel like Net, so why not take WIT?
Yeah, the stupidity of it all is really setting in as this last week of the quarter finds not only daytrading yahoos buying
but institutions buying Yahoo! in order to show they are yahoos.
One thing's for certain. It's gotten tough to be a bear again. For a couple of days there, the market seemed like it was teetering, and the talking heads were dusting off their "buy gold" scripts and talking about stocking up on biscuits and water.
Oh well, they tried to spook everybody and failed. But don't worry. I know for a fact they are just in hibernation, waiting for some bit of bad news to tell us that stagflation is back and the only safe place is in collectibles!
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Yahoo!, although 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 at