Typical. Everything we want to buy in the
is up 10 already and official trading is not even open. The people who thought Y2K would screw up things are all buying as are the people who just got in cash, including all of the hot funds because we know hot funds get more money in.
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The Year 2000 is just like last year. If you can buy it, it stinks. If you "can't buy it" it is golden.
So, we are using the discipline that stood us well in the previous last year of the millennium. We are ignoring the 10 points we missed and trying to get the next 30 points.
Welcome to another ridiculous year where discipline means being able to hold on to stocks that rally 30, 40 and 50 points, and lunacy means sticking with losers. Call me disciplined.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of the original 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