To: SpudFarmer who wrote (57178 ) 12/28/1999 2:08:00 PM From: Jenne Read Replies (1) | Respond to of 152472
B2B and a Broken Market By James J. Cramer 12/28/99 1:26 PM ET Click here for the latest filings from James J. Cramer. "Why is FreeMarkets (FMKT:Nasdaq - news) up 39 points?" I ask to no one in particular. Matt "Cool Hand" Jacobs immediately answers "B2B," and we all nod knowingly and go back to work. Of course. B2B. It's like I was asking why is it so wet outside, and I get back the answer "It's raining." Has it occurred to anyone that a better answer might be "Because the markets don't work anymore"? No kidding. A portion of my screen, the B2B portion, is totally out of control. Join the discussion on Cramer's Latest -------------------------------------------------------------------------------- B2B Forum. You get these moves because we can't find any level that brings out sellers. The logical thing to do would be to institute commodity rules for these things. Take Commerce One (CMRC:Nasdaq - news), which at this point tops the Colossus of Rhodes and the Pyramids for inclusion into the Seven Wonders of the World. If we would all stipulate that this market is broken, what we would do is say stocks can't trade in increments of 50 points or more in a given day. Once they are there, they are halted until sellers can be found. Of course, this rule won't be implemented until stocks start declining 50 points in one day (does it make me a bear to even put those words together in that order: declines...50...points?), but why not start the process? Random musings: We felt like geniuses when we sold our Liberate (LBRT:Nasdaq - news) last week. The stock promptly tanked 40 points. Now it is above where we sold it. We are now chumps. ... Isn't priceline (PCLN:Nasdaq - news) overdone, or is it more cyclical than we thought?