The Trading Door Swings Open

A successful after-hours Yahoo! grab seems indicative of a change in the market.
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Must be a new sheriff in town, and his name is Liquidity. That's right, I was able to scoop up 12,500



in lots of 2500 between 180 and 182 almost immediately after Yahoo reported numbers and page views.

That's shocking. To get that much in three months ago would have forced me to move the stock up four or five, and then it might have gone right back down after my take. It looks like this after-hours Badlands wants to file for statehood!

Now, of course, we have to go listen to the conference call, but I wanted to get this dispatch to you because I thought it was newsworthy that the market no longer had that kind of aces-and-eights feel to it.

Of course, knowing that the page views were blow-away and that the number was two cents better than the whisper may only get me a cup of coffee tomorrow.

But right now I feel darn good about the takes, considering the 183 bid that looms large right now in the cyberworld.

James J. Cramer is manager of a hedge fund and co-founder of At time of publication, his fund was long Yahoo! 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