and I can't stop kicking each other. If you wanted to make big money today, you had to lose big money yesterday. If you wanted to make big money yesterday, you had to lose big money on Friday.
You get the picture.
How unnerving is it that this market can't put together a convincing streak? Let's take our
position. We bought it yesterday after assessing that the impact of the Taiwan outage wasn't so severe.
Today, when there were people buying Philadelphia semiconductor index calls and loving the commodity semiconductors, Altera went begging because the power still may not be on.
Just the sheer split decision coming from a declining
and a soaring
is enough to send you into paralysis. How do we know that both markets won't reverse direction tomorrow, in some sort of weird "frontsie/backsie" day?
Beats me. Gotta go see some companies. When it gets this inconsistent, your level of conviction must grow to play. The only way you can maintain that conviction is to stay current.
What a drag.
A bunch of you asked me if I wasn't disappointed in the revenue growth of
. To which I replied, I am never disappointed when one of my stocks goes up.
Those who were looking for a reason for 3Com to fall on this news of a better-than-expected quarter are missing a key ingredient of this game: 3Com did not disappoint. That's what people were used to. So the stock rallied.
The amazing thing to me was how few upgrades we got from the analyst community. That means this story may have some legs. We sold some stock up at 30 but held on to the balance of our position.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Altera and 3Com. 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