The Latest Temptation of Cramer

Although Cramer feels Xilinx is a high-quality stock, he is saying 'no thanks.' He doesn't need the aggravation.
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This

Xilinx

(XLNX) - Get Report

sure is tempting. Down 6. High-quality stock. It's been going down ever since they whispered about Y2K -- which I am sure is no different from anybody else's Y2K problems. Even the chart. (Ugh, the chart, he's talking about the chart -- lookout!) Says if it holds here you have to buy it.

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And I am saying "no thanks." It is the end of the year. Who feels like risking a new position such as Xilinx right here? Who wants to defend it to anybody else if it keeps going lower? Why not just wait till next year?

And so Xilinx stays unbought other than as a paper trade. You see, at the end of the year, this hiatus in buying affects all managers nursing good years. It is part of the equation. Let the guys who are underperforming the averages venture to catch the Xilinx knife.

I don't need the aggravation. It doesn't get more candid than that!

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 any stocks mentioned. 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.