So, a bear goes to sleep on New Year's Eve, so glad to have this year at last put to bed. He figures it can't get any worse, I mean the market (
) was up more than it has ever been.
And just when the Bear gets to REM sleep he has the following dream.
Some of the new companies that came public this year, the ones that destroyed him with their nonstop rallies, still have no analyst coverage. Wouldn't you know it, in this dream firm after firm rolls ecstatic super strong buys of every one of these companies. You see they had simply been waiting for the holidays to end. One after another the coverage comes merrily rolling along in a parade of wild price targets and 500 multiples on revenues.
And then the bear wakes up. Except it's not a dream at all. It is what is going to happen. Because you can't not cover something that trades for billions and billions of market cap.
Better go hibernate, Yogi.
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