The Cutting Room: A Dow Specialist Spars With <I>TSC</I> - TheStreet

The Cutting Room: A Dow Specialist Spars With <I>TSC</I>

The trader thinks this weekend's show has the best feel of them all, with timely banter from Dow Index fund manager Charles Carlson.
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After missing last week's show to attend my eldest's school play, I was raring to go to the set for the TV version of

TheStreet.com

. I was pleasantly surprised when I saw a gang of personal finance people from the site in the green room. This was my first chance to speak to

Dagen McDowell

and

Joe Bousquin

in person -- remember I am not at

TheStreet.com

and don't go there -- and they were as fired up as I am about my joining the personal finance team a couple of times a week. I told them I was approaching this project with the zeal of Attorney General

Bobby Kennedy

when he decided to go after

Jimmy Hoffa

. "Get Morningstar." They laughed; I mean it. We got along swell.

TSC on FOX: Join the discussion on

TSC

Message Boards.

Next thing I know, I am wired, made-up, and I notice, for the 10th time this week, I have let my hair grow too long. I go to a barber in Brooklyn, where I lived many years, for my half-a-haircut and I didn't have a chance to get there, and it is starting to show.

We pulled a change-up on the show this weekend, which you probably didn't even notice because

Brenda Buttner

is so polished as a host. We had our guest join in the confab and what a delight

Charles Carlson

was. Given that the

Dow Jones Average

had changed, we caught a break to have a manager that plows the Dow field exclusively. He knew his stuff.

He got the show off just right by finally giving skeptical

Herb Greenberg

an ally. Herb was really starting to seem like a lonely

Maytag

(MYG)

repairman for the bears, so it was a welcome change. You could tell Herb was into it. Brenda always keeps the show balanced no matter what, but this did make things symmetrical.

I never know if you can tell at home, but we thought this show had the best feel to it of any we have done, and adding our guest to the

Word on TheStreet

segment probably cinched it for us.

After Word, we piled back into the green room to watch Chartman vs. Fundy and I found myself thinking this

Chevron

(CHV)

is definitely right. When Chartman and Fundy agree, I am all over the stock like a cheap suit. I know that refining margins are expanding -- I am long

Valero

(VLO) - Get Report

-- and I am thinking that if there is any index money coming out of Chevron because of its boot from the Dow, I am going to grab some.

I thought that

SBC Communications

(SBC)

sounded interesting, but the big DSL spend that Adam highlighted -- and we were all taken by his incredibly cool look, by the way -- turned me off. Next!

Then we were back to the set where we challenged Chuck Carlson on

AT&T

(T) - Get Report

and

Boeing

(BA) - Get Report

. I like Boeing so I had to struggle to dredge up the defense stuff. But you can't be too sure about anything defense these days. I found this great Jack Grubman (top

Salomon Smith Barney

analyst) comment in the research about AT&T paying too much for

MediaOne

(UMG)

and used it, like I was Tim Russert or something, and Chuck seemed to enjoy the riposte.

Next thing I know we are back to predictions and accountabilities. The

Lucent

(LU)

story. Was it right? To me, since the stock went higher after it came out, the story was wrong -- but does that attitude drive Herb and the rest of the journalists nuts!! I made money with Lucent -- shared every step with the site -- and was happy to point that out!!

For next week I said I like the brokers, but I had to make the point quickly because we were almost out of time. Herb and

Dave Kansas

sparred over

Greenspan

. And that was it!

It always goes too fast.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Lucent and Valero. 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

jjcletters@thestreet.com.