Cramer comment's on the "Internet's"
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The Buying's Over
By James J. Cramer
[ theStreet.com ]
1/22/99 2:46 PM ET
Looking good, but don't want to lose my mind here. My discipline does not allow me to buy any more of anything. The sale is over, and unless they throw another one, maybe because Jerry Favors reads the road maps and takes us into some sort of retaining wall this afternoon, I am done buying for the day.
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Lots of times we get a Friday afternoon sell-off as people figure, heck, too hard to own them over the weekend, but to me the action looks benign. In the background, I am hearing Maria Bartiromo drone on about how "... the Internet Net stocks are down." Wrong! Today they are up. And I think they are trying to bottom. Can't go overboard in this group, too much underwriting pressure, but for a bounce, I can't think of a better place to be.
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I'm hearing different things with regard to the earning's...from 'blowout' to 'less than expected'. In any case, now that this week of earning's is behind us, there will now start to be a lot more commentary on AMZN's earning's.
Considering 'going deep' and holding through Tuesday's close...No gut's no glory!! Will decide later.
I pay cash for this one...I wouldn't be able to sleep well it I had it short or on margin.
David.
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