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Technology Stocks : Globalstar Memorial Day Massacre
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To: A.L. Reagan who wrote (92)5/11/2000 5:45:00 PM
From: A.L. Reagan  Read Replies (1) of 543
 
From Cramer: Why the Shorts Are on Top
By James J. Cramer

5/11/00 2:27 PM ET

Will the shorts cover? Will they come in now and bring in their shorts rather than wait to see another piece of data that might be slow? We think they will. We think the shorts have had a huge run and they don't want to give back their gains. Why not bring in the shorts here and put them out again tomorrow after the producer price index number?

I speak in terms of what the shorts will do because I think that the shorts have the upper hand here still. The upper hand always belongs to the guy who is making the most money.

I see short-covering all over today, in the QQQs, in Intel (INTC:Nasdaq - news - boards) and in once-sainted Cisco (CSCO:Nasdaq - news - boards). How do I know this? Because, like Herb, I get people emailing me everyday with their shorts praying I will bash the companies. These guys have had a very good run, and I know they don't want to give back those juicy gains.

At this point, I like to stay close to the shorters, get in the mindset, figure out what they think. It makes you money. To these ends, I contacted Bill Fleckenstein's office to host another chat with him next Tuesday on Yahoo!. We are going to go at it again and you are all invited -- Tuesday at 5 p.m. on Yahoo!. I loved the last chat. I hope you will join me for this one.

thestreet.com
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