It's 3:15 p.m. and I am driving my partner,
, crazy, as I usually do, right about then, with massive second-guessing of things we should have done. I tell him we shouldn't have sold the
so aggressively. He nods, with grudging agreement. That we rebuilt the
a point too soon, "Yeah, yeah, sure sure," he says like some punchdrunk fighter. By late afternoon, I have him pummeled into agreeing with my whole litany of inane prattle.
And then I say "Hey, and how about
? How did we miss Seagate up a buck and change? Huh? Huh? Who was responsible for missing that? We suck!"
The totally beaten 32-year-old, in the ring all day with the manic 44-year-old, simply can't be that submissive. Hold it, he says "DRIVES SUCK."
"But, but," I say, "come on, I mean like..."
"Nope, drives suck."
I make a face, but I am parried and silent. Just now it comes over the tape that Seagate's competitor,
, can't make the numbers. Looks like a terrible, terrible quarter, one that will take the Street by surprise and start the preannouncement season off with a nasty bang.
The culprit? Aggressive pricing in the disk-drive market.
What a vicious market. Lycos now trading below where it was with the Diller bid! Punishing game,isn't it?
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Dayton Hudson. 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