Is it speculative? You bet. Is it crazy? Absolutely. Can you make big money in it? Definitely.
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There are plenty of people worried about this market, and they are bent on making you sell so you can be there on the sidelines with them.
Most of these people are playing the market with
Johnson & Johnson
, to name three stocks that were down today.
They are traditionalists who are unwilling to learn or have a mental block against stocks that you know I write about every day and try to do my best to enlighten you about.
I know if my portfolio were made up of nothing but stocks that move in quarter-point increments, up or down, and "value" stocks, I would hate this market with a passion. I would want to rip the lungs out of guys like me who see the gains in
and say, "I don't care. I gotta have some of these."
But the naysayers and negativists want nothing more than these highflying stocks to crash, or be crushed, or be revealed as frauds and mountebanks. But that won't happen. That's just not how this game works.
I wish I could say that I am 100% long the stocks that are in my rotisserie league, but I am not.
But I had the intelligence -- and believe me, it took more intelligence than love of fantasy -- to have some of them on to enjoy the romp.
In other words, if you can't play or didn't play, no doubt this market is your worst nightmare.
But if you have, you know better.
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