Looking good, but don't want to lose my mind here. My discipline does not allow me to buy any more of anything. The sale is over, and unless they throw another one, maybe because
reads the road maps and takes us into some sort of retaining wall this afternoon, I am done buying for the day.
In fact, I let the buys incubate while we had a terrific visit from the folks from Tennessee: Woods and his son, E.W., who won the
contest. We shared Chinese and I learned the eternal value of optimism in the market and life from these two delightful people. They are devoted fans of
and I felt very proud to be affiliated with both during our lunch.
Lots of times we get a Friday afternoon sell-off as people figure, heck, too hard to own them over the weekend, but to me the action looks benign. In the background, I am hearing
drone on about how "... the Internet Net stocks are down." Wrong! Today they are up. And I think they are trying to bottom. Can't go overboard in this group, too much underwriting pressure, but for a bounce, I can't think of a better place to be.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. 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.