Time to Buy More Bonds

The trader wants to get into the 30-year even if it is a controversial trade.
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Slight rollover in the chemicals. A quick turndown in wood products. Cattle, gold plummeting. Oil's peaked and is retreating rapidly.

Time to buy more bonds.

Yeah, while chatter focuses on the not-so-great five- and 10-year auctions, I want to swoop down and get some more 30-year before the lid's been lifted.

Talk about a controversial trade. Technicians galore, whole societies of technicians, have blasted me for going long bonds here. One group of technicians emailed me about how they are doubling their bearish bet now that I have gone long bonds, because I am

always wrong

on bonds. (I love this -- I have bought bonds a couple of times in the last couple years and I have batted a g.) Even one of

TheStreet.com's

own, the guy with the

mask, has written me enraged emails, saying, what right do I have to even talk about buying bonds?

Give me a break!

Did someone see some number I didn't see? Was there a big spike in the price of chewing gum or Lifesavers or something? Did zinc rally without telling me?

I wish I could say I am shaking and nervous about the auction, about the CPI, about the PPI. Instead, I just feel confident. And, as always, I welcome those on the sell side and the short side to bet against me.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long the 30-year Treasury bond. 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

letters@thestreet.com.