The Net is so sloppy that a powerful Amazon call could lead to a snapback rally. Heck, we've had a serious drubbing in the Net; it ain't hot at all.
I am not long or short Amazon, but I see that there is a range of revenue -- forget earnings; they have told us over and over to forget earnings, so let's take them at their word -- from $266 million to $290 million.
Given this tape, we need to see $300 million in revenue to have any hope of a headslam short-covering rally. Top of the range -- $290 million -- and it could be a turn. Low end and I suspect that the griddle will be set to cool for some time.
How important is this? Let's just say that you will hear a lot more about value investing and a lot less about the Net if Amazon stinks up the joint. And instead of worrying how hot the griddle is, we should be worried about whether the pilot light went out and the canary ain't singing anymore.
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 the stocks mentioned, although holdings 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 at