This column was originally published on RealMoney on Nov. 23 at 1:41 p.m. EST. It's being republished as a bonus for readers.

Broken field running. No cornerbacks in sight. Safeties blitzed, splayed on the ground next to an unhurt quarterback. And the bulls are just teasing some of those slower linebackers, letting them come up within a few feet before they cross the line to a touchdown.

That's what's happening now. This was always my worst nightmare when I was short, and it was the reason I always had a nice dollop of in-the-money calls as extra stock so I wouldn't feel like I was short inventory.

Earlier, I gave you my heads up on the Goldman Sachs ( GS) trade. I have to tell you that I love situations where the stocks are north of $100, they are winners and the mutual funds just take them up every day because the stories have no flies. That means Bear Stearns ( BSC) and Lehman Brothers ( LEH). But it also means Whole Foods ( WFMI), which actually, if you recall, nicely set the bar low enough to stomp on when it reported. I would add that Toyota ( TM) might be right, with the January $90s calls.

Earlier today, an emailer marveled that I wrote that I would put a big position on with Goldman Sachs and then hope the stock came down so I could buy more. The emailer thought that was counterintuitive. Wrong! To me, what's going on here is disaster protection -- the disaster being an upside explosion that would leave me, if I were back at the hedge fund without enough merchandise. If Goldman were to go down short-term, then it would be a gift, so I could put more of it on for when the "broken field running" starts again next week.

Remember, I am only telling you what I believe I would be doing here, having been in many "broken field running" situations at year-end. I always picked up an incremental 500 points over the averages with these call positions.

And, best of all, when they get really high, you can sell common against them, not exercise and get a juicy short-interest rebate!


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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 ActionAlertsPLUS. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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