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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Earlie who wrote (176637)	7/1/2002 2:26:20 PM
From: Knighty Tin	Respond to of 436258

Earlie, I am amazed that S&P is amazed. The must have got the letters wrong on big blue. Those good old core holding boys wouldn't do such a thing.

To: Earlie who wrote (176637)	7/1/2002 2:36:30 PM
From: Les H	Read Replies (2) \| Respond to of 436258

Big Blue Salami djurdjevic.com

To: Earlie who wrote (176637)	7/1/2002 2:47:45 PM
From: orkrious	Read Replies (2) \| Respond to of 436258

I usually don't like to be on the same side as Cramer. This time, I think he's right. Waiting for an IBM Selloff By James J. Cramer 07/01/2002 02:26 PM EDT Read More Click here for the latest from James J. Cramer Why is IBM (IBM:NYSE - news - commentary - research - analysis) going down? Stupid question. The better one is "Why isn't this one going down harder?" This weekend I saw that Susan Byrne from Westwood was raving about the stock in Barron's, and I wanted to scream. We seem to have decided during this period is that if stocks' earnings grew double-digit but their revenues grew in the low single digits, we weren't buying them anymore -- if the companies were cyclical. (We still accept it from Coca-Cola (KO:NYSE - news - commentary - research - analysis), but I think that's because it has Warren Buffett's blessing, and it isn't so cyclical.) IBM is the quintessential low-seller/high-earner. Nobody trusts it at all. Now that we have the EDS (EDS:NYSE - news - commentary - research - analysis) selloff, we should sell off IBM as well, because it does those big turnkey jobs, too. When IBM took that charge at the beginning of June, the $2 billion to $2.5 billion charge, I wanted to puke. You get those big charges when something's awry. Of course, the stock actually didn't go down big after the charge, as people might have felt the worst was over. What a joke. If you are in this stock, you must have a huge tolerance for pain, because it is going lower. And it's going lower for dozens of reasons, but mostly because it can't be trusted. So, bottom-fishers, be my guests. If, however, you don't like earnings management, keep in mind that owning IBM is owning Exhibit A of the era. That's not reflected in the stock until it hits $50. If then.