Only a couple of stocks are really moving the
. There really isn't any interest in stocks up here, judging by the volume. Can't be excited given how few new highs there are.
Very bummed to see the utilities down. Can't be cheered by the action in
. Have to worry that
isn't up more. Disturbed by the action in
. Displeased by the unchanged finish for
, dissed by
Oh, please. What do these people want? What has to go right to get the talking heads impressed? Don't they know that it has been like this for 9000 straight points, give or take three Octobers? Don't they know that there is always something that isn't up to snuff?
If I have done one thing RIGHT in this business, it is that I have not succumbed to the OVERWHELMING negativity that surrounds almost every aspect of the staid and prudent off-line and TV. It is what I am most proud of. It would have been so easy to get off the train 6000, 5000, 4000, 3000 even 2000 points ago. Who the heck would have cared? But I believed that a combination of low interest rates and exceptional growth coupled with a closing budget deficit and good management of the economy would yield higher results.
Yep, I guess I am a child of the bull market. But what was the alternative? To have been a lifelong bear? To have sown the seeds of intelligentsia doubt? To be more prudent than wise? To have joined the cozy ranks of those who know the market is too high and that the divergences will lead to catastrophe?
The biggest joke? Let's say I went bearish right now, at this very moment, selling everything and going into cash? Would that redeem me in the eyes of the bears?
Who the heck cares? Don't bother me, I'm trying to make money.
Doesn't seem like a good idea to cash out now. Even if it would appease the critics who aren't in the game anyway!
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At the time of publication, the fund was long Intel. 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 by sending an email to firstname.lastname@example.org.