My voice is shot. Dog-tired. I am thinking and communicating via email with
, the new guy at the firm. All AOL Instant Messaging. We play scenarios, like we are a bunch of old NORAD guys or something. Thought this might be interesting to everybody.
Scenario One -- Maximum Guts, Maximum Glory:
Amazon's revenues, while not $300 million, are still good enough to find something to like in the Web stocks. Raw growth and a good defense of AMZN by analysts makes the Net turn around. Buy some more
at opening and buy down for excellent average for snapback rally. Scalp some other faves like
that have been crushed..
Scenario Two -- Some Guts, Maybe Some Glory:
Whole Net continues to trade down, you buy some more soft Net/telco tech and just wait for another day to play hardcore Net. No lift to the
lives on and rallies by end of day.
Scenario Three: Minimal Guts, Minimal Glory:
Whole Net trades off, including soft Net and telco. You buy some PC stocks that have been beat up. Hope for late-day
Munder NetNet fund.
Scenario Four: Forget the Guts and Glory Stuff, Maximum Profits:
Wait until sell programs kick in, pull down favorite cyclical stocks and just buy those, avoid the battleground entirely. Stay away from any tech until it turns, then hop on small.
Advice Under All Scenarios:
Remember Moltke's dictum: No plan survives contact with the enemy.
See you tomorrow. Gotta get my voice back.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long AOL, Yahoo!, eBay and Cisco, although positions can 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