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To: Crystal ball who wrote (22058)6/14/1999 2:37:00 PM
From: Jenne  Read Replies (2) | Respond to of 41369
 
Holy Hemorrhage!
By James J. Cramer

6/14/99 2:24 PM ET


What's this? Another Dow Jones plus-80 day where everybody gets his head handed to him? What a bummer. We have pockets of strength, notably the cyclicals that make up the averages, but everything else, especially the stocks that make individuals money, are sucking wind big time. Can't wait to see the bleeding in that Investors Business Daily mutual fund index tomorrow.

These are the kinds of days I was talking about in my Bridge to the New World piece last night. These days take your breath away. I am just sitting around doing nothing in Yahoo! (YHOO:Nasdaq) and I am down 10 points! That's not the kind of pain that many people can handle, and this feels like Day 10 of the down-10-in-Yahoo! syndrome.

Pfizer (P:NYSE), Yahoo!, America Online (AOL:NYSE), Amazon (AMZN:Nasdaq), E-Trade (EGRP:Nasdaq), EMC (EMC:NYSE) and eBay (EBAY:Nasdaq) may have crushed more investors in these last few weeks than they created in the previous year. Throw a tourniquet on these stocks already! They are ripping the lifeblood out of the individual investor.

I just got off a very reassuring eBay call and the stock didn't even stop rolling over. It didn't even blink!

And yet it is still too early. It is still not right. It is easier to make money in wood and paper and ethylene.

So that's what I am doing.

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