Sycamore (SCMR) was the tell you needed to stay away today. If Sycamore couldn't go up there were dozens of other companies that couldn't either, as Schemer (our nickname for the company) was fabulous. Some of you emailed me and said I used an unfair comparison because the stock really went out at 87. So it really was up at the beginning of the day. To which I say: Oh please, in the old days Sycamore would have been up 20!
We know why Sycamore isn't going up, don't we? We know the real reason. It is the reason that the Trading Goddess gave me after I told the story to her. She said: "Meathead, the stock was too high to begin with."
Meathead. That about says it.
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