This column was originally published on RealMoney on Sept. 9 at 8:39 a.m. EDT. It's being republished as a bonus for TheStreet.com readers.
It happened, as it always does, right on schedule, hurricane and all.
The tech rally. You can count on it. As the orders build for the stuff for the holiday season. As the conferences turn the heat on.
And suddenly, you go from thinking, "I have plenty of time to buy this stuff," or, "This stuff is going to kill me for my performance," to, "Will it ever come down again?"
That's where we are right now. Lots of denial. Lots of guys saying, "You know, I missed the rally, I have missed
It is my job to tell you that you haven't. But you will.
There won't be a big pullback, not when everyone's thinking, "I hope it comes down."
Look at Qualcomm. That company isn't even supposed to have a good quarter. It hasn't done well in a year. I waited in my charitable trust,
ActionAlertsPLUS, for it to go back to the mid-$30s so I could buy it. And waited. And waited some more.
I found myself hoping that
would say bad things so I could buy Qualcomm.
When it didn't, I swallowed hard and bought some more.
That's where we are now. Time to stop denying. Time to start believing.
P.S. from TheStreet.com Editor-in-Chief, Dave Morrow:
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At the time of publication, Cramer was long Qualcomm and Motorola.
James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
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