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Technology Stocks : CMGI What is the latest news on this stock?
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To: bargainman who wrote (10251)6/16/1999 1:15:00 PM
From: Jenne  Read Replies (1) of 19700
 
Just what I wanted to hear...

Exploiting the One-Two Punch
By James J. Cramer

6/16/99 1:03 PM ET


I don't know about you, but I am pulling for a one-two Ron Insana-Alan Greenspan crunch punch. That's where the bulls pull in their horns ahead of a parade of Whitefish, Mont., types telling us this rally is phony on CNBC and we get worries about authentic Fed gibberish tomorrow from the Man Who Matters.

This time I want the one-two punch to land right in the market's kisser. I want Insana to bring on the biggest, baddest, scariest bears of all time. Heck, find me Michael Metz. And then maybe have Alan Abelson on. We've got enough of those people from the Journal and Barron's on CNBC these days -- why not let Abelson in on the fun? Make it like the end of a bullfight or something, after the sticks are in and the sharp knives are out. Or maybe saw off a few of those longhorns -- they spurt blood, you know. How about taking a blowtorch to that big metal bull down the block from the New York Stock Exchange? All coming up at 2 p.m.! Can't wait. Be there.

And then we have Fed crunch time, where people want to sell because Greenspan won't be joking about productivity, he'll be wearing his 50-basis-point war paint! Not. We want this because we want another chance to get in.

We are keeping our powder dry for these "really scary Zombie Island this time the monsters are for real hide under the bed was that thunder I heard" afternoon events.

Why? Because these punches have been thrown before. And now we know how to turn them to our advantage. And because soon Maria Bartiromo will be hosting in the afternoons, and we won't have this time-honored pattern to kick around any longer.

Random musings: "Twenty-five and walk away" means Greenspan will raise the rates 25 basis points and then wait. I liked the ring of it.

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