What an unbelievable summer ramp! Now we have one hurdle and that's those nasty payrolls. If I were at a hedge fund that had a big short position, I would go to every city in the country and hire everybody who is unemployed. Might be cheaper than all of the money you will lose if that number turns out to be weak.
Lots of idols cracked this week. The market overran
. It ignored the possibility that the
was less than vigilant. It allowed the dot-coms to come back, even though they weren't supposed to. It even forced
off Fed Watch for 24 hours.
Even TSEL, the stocks everybody loves, came back. Roared back.
If this market were a sports team, it would not have had a high first-round draft choice for a decade. It would be a dynasty of
proportions. The '27 Yankees. It would be headed for Cooperstown -- no five-year wait.
There would be so many jerseys hanging you couldn't see the rafters.
It has overrun every superlative in my vocabulary.
That's saying something.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned. 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