Total Arrogance
Why does
Micron
(MU)
mock us with its strength? Is
Seagate
undefined
trying to fool us into playing? Is it the siren song of
Intel
(INTC)
that makes me so on edge? Or the strength in
Applied Materials
(AMAT)
?
Jeff Berkowitz
TheStreet Recommends
, my partner, calls stocks like these -- the ones that rally when they shouldn't -- "arrogant stocks," as in, the arrogance of the buyers who think they know more than those of us not participating.
I try not to personalize it. Life's too short. But the arrogance comment does capture so much of what you have to feel about the scattered strength on the face of a backdrop that is just OK: a presumed tightening, a worse-than-expected productivity report and an underwriting market that comes back to life the moment that
Ask Jeeves
undefined
rallies 1/8.
For me, I catch up on my reading, check out some new names, do work on some out-of-favor cyclicals that could be the next
Union Carbide
(UK)
.
And I stew about the arrogance of the
Junipers
(JNPR)
.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Intel. 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
jjcletters@thestreet.com.
