Will the shorts cover? Will they come in now and bring in their shorts rather than wait to see another piece of data that might be slow? We think they will. We think the shorts have had a huge run and they don't want to give back their gains. Why not bring in the shorts here and put them out again tomorrow after the

producer price index

number?

I speak in terms of what the shorts will do because I think that the shorts have the upper hand here still. The upper hand always belongs to the guy who is making the most money.

I see short-covering all over today, in the

QQQs

, in

Intel

(INTC) - Get Report

and in once-sainted

Cisco

(CSCO) - Get Report

. How do I know this? Because, like

Herb

, I get people emailing me everyday with their shorts praying I will bash the companies. These guys have had a very good run, and I know they don't want to give back those juicy gains.

At this point, I like to stay close to the shorters, get in the mindset, figure out what they think. It makes you money. To these ends, I contacted Bill Fleckenstein's office to host another chat with him next Tuesday on

Yahoo!

. We are going to go at it again and you are all invited -- Tuesday at 5 p.m. on Yahoo!. I loved the

last chat. I hope you will join me for this one.

Random musings

: Let's see, we sold

IBM

(IBM) - Get Report

when Rick Thoman left, and we bought

Xerox

(XRX) - Get Report

when he got there. That's how much we liked him. Xerox moved up smartly when he got there. Now people are buying Xerox because he just resigned from it. One of these had to be wrong. Wish I knew which one...What will it take to get all of these dross-like Net companies going up? I think the market wants to see a one-stop shopping company put together, with

Kana

(KANA)

,

Accrue

(ACRU)

, and

BroadVision

(BVSN) - Get Report

, or

Vignette

(VIGN)

and

Art Technology Group

(ARTG)

of

Hotjobs

and

Monster

. I just don't know if the companies are ready to give up that kind of autonomy. But we all know it is needed.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Cisco and Intel. 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

jjcletters@thestreet.com.