The OEX Ramps After All

The OEX is ramping, thanks to Microsoft. Plus, Redback and Brocade torture the trader.
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Don't you love how quickly you can be wrong online! The

OEX

ramp is occurring even as I thought it couldn't -- courtesy of

Mister Softee

(MSFT) - Get Report

!

Still, I am glad I spotted this short ramp on the OEX and what I will do is rewrite that

piece and go in-depth about how a short-squeeze can envelop the whole market.

In the meantime, wouldn't you know it,

Redback

(RBAK)

and

Brocade

(BRCD)

holders -- I got long and I killed 'em. The top, the *&%&**$#%^#?&$#?&* top. I just called

Berko

at poolside to inflict some of the pain I feel from these two stocks.

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