SAN Diego (TheStreet) -- Sitting there watching Jim Cramer at 36,000 feet Friday morning, on my way back to San Diego from New York, it was a good thing I was buckled in. The turbulence in my head, sparked by what he said, was greater than the turbulence we were flying through.
What he said in a rapid-fire segment on CNBC's Squawk on the Street (and I'm paraphrasing): Forget the fundamentals, the crummy earnings quality, the business model concerns -- all of that kind of stuff short-sellers talk about. All that really matters is that "Green Mountain is selling Keurigs" and that "Herbalife is generating cash flow" and that the "hedge funds short it are only talking their books, so best to ignore them."
He didn't mention my name, but by mentioning those two companies, and by pronouncing the "H" in Herbalife (HLF), he might as well have -- especially since I have written and commented critically about both and since he and I had gone back-and-forth earlier in the morning via email about Green Mountain (GMCR).
What he said on-air, though, resonated to everything many of us are feeling right now about this market. Forget about whether it is undervalued, fairly valued or overvalued, based on whichever metrics you want to use.
All that matters is the direction of stock, which makes this the best of times for opportunistic traders, the worst of times for those who are not, especially those who dare tilt against the herd.