"Wow, Jeff, we can buy
only up FOUR!!!! What an opportunity!!!!!!!!!!!!!!!!!!!!!!!"
Yes, it is crazy out there. I actually found myself yelling this a few minutes ago. It is like the whole world just caught on to the broadband/bandwidth/Net theme. All at once. This morning. In the meantime the brokers are droning on about
earnings and about
crummy number and the boring, dead-as-a-doornail steels. The excitement and wild animal spirits of this market are both shocking. People want in. The institutions want in. Everybody wants in.
Of course, it also turns out that all of that gibberish we heard about money coming out of the market this week was all wrong. The public is flooding the joint with bucks and the institutions all want
All my life I have been waiting for days where it just hit everyone at once that they had to be in. I saw it in October of '82, I saw it the day the Gulf War started, and, heck, it looks like I am seeing it now. Everything on my screen was up five -- before the market even opened!! Anyway, back to my turret.
Remember what I said about
James J. Cramer is manager of a hedge fund and co-chairman of TheStreet.com. At time of publication, his fund was long Cisco and 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 by sending a letter to TheStreet.com.