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This column was originally published on RealMoney on Aug. 3 at 11:58 a.m. EDT. It's being republished as a bonus for readers.

So much for


(NKE) - Get NIKE, Inc. Class B Report

bad quarter. So much for

Electronic Arts'


bad quarter, for that matter. And so much for



troubled quarter, too.

One of the things that happens in a bull market is that you get pullbacks. The pullbacks are disguised as many different animals. Let's analyze these three pullbacks to see if we can't find something in common that explains why they need to be bought.

First, Nike actually had an excellent quarter. There were no flies on it at all, save valuation. When you review the business, much was on track or ahead of plan. But the stock suffered from a perception that the sneaker business had gotten more competitive. Now, the stock is




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, making the landscape even more competitive. How can that be? Because nothing was wrong with the stock to begin with. Tough call up here to buy it now, though.

Electronic Arts fell because traders didn't do their homework. The shortfall was of the announced variety, and I don't know what more EA could have done to prep people; they still sold, like total knee-jerk players. EA was, is and will be a story about the new hardware that is rolling out over the next six months. Still time to buy.

Yahoo!'s the most interesting one. I, like everyone else, wasn't thrilled with

the quarter. But I still would be buying it, and buying it aggressively, for the reasons outlined in an excellent


cover story: The ad business, which is good for Yahoo!, is about to get better, and the meager efforts to try to stop that by the print companies banding together will fail. Yahoo!'s an ad machine, with tons of cheap inventory that it can keep producing. It's a gift that Yahoo! is down ahead of what will be a revolutionary migration online by advertisers. Don't agree? Read the article yourself. It is the strongest piece of research in favor of buying the stock I can remember.

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So, hold the Nike, buy the EA -- although I like


(GME) - Get GameStop Corp. Class A Report

more -- and definitely buy the Yahoo!. Those are the takeaways from these three gifts in the form of selloffs.

Random musings:


(MSFT) - Get Microsoft Corporation Report

is now trading at March 2002 levels, if you add back the dividend. I believe that's important. It is an important stock, and it is


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At the time of publication, Cramer was long Yahoo! and GameStop.

James J. Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, 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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