Good luck, Cramer! ROFLMAO
By James J. Cramer
12/7/98 3:32 PM ET
Attention, everybody else in the online and off-line media:
Will you please focus on how the .com stock business works? No, not the corporate .com business, but the stock-trading aspects. The fundamentals have become so divorced from the stocks that the life cycle (Web page, CNBC tease, CNBC) has become almost comical. Yet no one, not TheStreet.com or The Wall Street Journal or any other publication or service, has done this story.
I tried to do it a bit with Wavephore (WAVO:Nasdaq) on CNBC last week, but the consequence for me is that immediately I get referred to the Securities and Exchange Commission even though I have never once traded the darn thing!
Someone has to go to one of these day-trading shops and figure out the process by which a Thrustmaster (TMSR:Nasdaq) gets thrust into the multimillion-dollar-cap segment of the market after being a dog for years. (Now all the TMSRers will pillory me. Come get me, wise guys!!) Someone has to show the havoc and destruction this whole mania is causing to the traditional players in Nasdaq, all of whom have since stopped making money.
Someone has to elaborate on the game that is being played, explain it to us -- heck, even go undercover as a day trader. This phenomenon is the most important sea change that has occurred in the market in years, yet nobody is covering it.
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