Ahh, now the talking heads speak up. Now we will have a real rally. Now everything is fine. For heaven's sake wouldn't it be great if, for once, someone would come on and say, "I am betting that the PPI is good and I am buying them right here."
You know why they won't do it? BECAUSE EVERYBODY IS SO DARNED AFRAID OF BEING WRONG -- AND OF THE CONSEQUENCES OF BEING WRONG -- THAT THEY WILL NEVER STICK THEIR NECKS OUT. WHICH IS WHY THE TALKING HEADS CAN MAKE YOU NO MONEY.
I was inundated with email yesterday after I
wrote that the talking heads will never alert you to the easy money because they refuse to change trend or make a stand.
I get paid to be right. When I wrote the
checklist of what could turn this market around, I made the point that we could be in good shape with a good PPI and that you should not listen to the siren songs of the know-nothing talking heads.
Look, there will always be another opportunity. The market could open up and then fade as the
Buzz and Batch types split for weekend pastures. I am sure there will be some rumor that
is going to attack the 10 most-loved stocks. And you can get in. But wouldn't it have been easier to get the head's up from TV yesterday instead of the steady drum-beat of nonconformation volume stories and other negatives?
Speaking of speaking one's convictions, please stop egging me on to attack
. I am the only one who does it anyway. And you know why that is? Because most people hate getting hit in the press. I have been hit five times by
. Five times! In less than one year. Maybe I have a keen eye for the obvious, but I don't think that I would have been hit five times if I had been silent about the lack of ability of
to turn money into wealth.
Who the heck wants to be attacked every other Saturday? Every time it has been personal and embarrassing and nasty. Every time it has been designed to make me look as foolish as possible. Every time it is vicious and cruel and belittling.
It doesn't deter me, perhaps because I have developed the skin of a rhino coupled with the brain of a Prozac tablet. But it sure must deter others. Who the heck would ever take them on after seeing what happened to me? It is much sweeter to keep silent.
I come from a different school, the one that says you may kill more flies with honey, but you kill 'em all with napalm. Until others adopt thicker skins and stop fearing being wrong or criticized, you won't get the straight dope elsewhere. But you will always get it here.
gain was not two cents, but more like a penny.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Dell. 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