You have heard of trading in the dark. Today we are trading with bad quotes. There is some weird Nasdaq feed that has given us different prices from reality. That's cool if you are short, but devastating if you are long, particularly if you are playing Internet plumbing.
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For example, we thought
was up when it was down. We thought
was getting clocked. It was up. The random nature of the wrong feed had us sticking to listed stocks, which were accurate all morning.
In the meantime, the market wants to take its cue from the bond market, but the bond market refuses to send us any meaningful signals, maybe because the bond guys are taking their usual time off for Columbus Day.
I think bond guys take off from work the length of the time it took Columbus to get to America to fully commemorate the holiday.
The weirdness of this day continues with drugs and airlines screaming.
Boy, does that make no sense. Maybe this is just an anti-tech day.
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