Imagine if you were short coming into Thursday. Maybe you believed that the Serbs would fight back viciously and harmfully and beat up on
like it's the
Maybe you thought that
could clobber the market with its preannouncement, the way it did last month, when this same company's bad news stuck a javelin in the eye of the tech buyers.
Or perhaps you just thought the market was rolling over. You had listened all day to people who said "too much too fast," or were worried about the breadth of the market, or the too few new highs or too many new lows.
You missed a good one.
Why point out the obvious? Because two days ago you couldn't buy a positive word about this market. Two days ago if you owned
you went home feeling like slitting your throat.
Heck, there was a moment when
was down 12 and you would have thought that owning this stock meant giving up your day or month or even your year. The fear in that stock was palpable.
So remember, next time 2 p.m. comes around and you hear that some savvy hedge fund hates the market and is shorting them left and right -- as we heard on Tuesday -- think about what you would have missed, or did miss, when the negativity got too great.
Keep an open mind. Stay flexible. Remember markets can turn on a dime. Don't get too bearish. Don't get too pessimistic. Keep your eyes open.
These are words to trade by. Ideology has no place in the stock market. This is not a religion. There is no dogma. Just opportunity.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long America Online, Yahoo! and Microsoft, although positions 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