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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who wrote (230678)3/24/2003 2:46:28 PM
From: mishedlo  Read Replies (4) of 436258
 
Cramer - Flashback to Friday

Sometimes you have to do the toughest thing, and right now, the toughest thing is not selling. As I look at the prices of where things have gone this week in my Action Alerts PLUS portfolio, I am stunned at the gains. But I also recognize that at really crucial moments like this, you have to fight selling. You have to be willing to let things run.

thestreet.com

Can you afford to be short on Monday when it looks like we'll be in Baghdad by Sunday at the latest? Can you afford to stay short today when expiration wasn't set up to handle this kind of upside?

That's what hedgies are thinking this morning as they watch Europe rally and they see U.S. military columns march unopposed basically wherever they want to go in Iraq. Scattered oil fires and some small-arms combat have been speedbumps on the way to Baghdad, and it looks like more people have been injured or killed in accidents than in conflict.

The panicked upside move, exacerbated by expiration week, shows no signs of abating as the virtuous cycle/exquisite moment case spreads.
Is it all too good to be true? After three years of the worst bear market in 70 years, I don't think so. In fact, it seems fitting to me.

thestreet.com
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