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Pastimes : James Cramer Skeptic Thread -- Ignore unavailable to you. Want to Upgrade?

To: Lazlo Pierce who wrote (234)	6/20/1998 11:59:00 AM
From: James J. Cramer	Read Replies (4) \| Respond to of 1254

Dave: I genuinely believed that Dell was being unfairly punished because it was a good clean quarter. In fact, I think the stock would be doing well today had the fundamentals of the industry not taken a downturn again in the middle of May. Compaq has gotten much more aggressive on price as has gateway. I think those reasons, not Dell's quarter, has more to do with the punk action in the stock subsequent to when I was on Squawk. Was I cheerleading? Let's just say that Dell has been a corelong of mine for years and has made me a ton of money. The fact that periodically it has not acted well has nothing to do with the shorts or the longs but the fundamentals of the industry. I think Dell is biding time. I was ENTHUSIASTIC about the quarter because, I have said many times, Dell amazes me with how well-run it is. That said, this is a tough time for the p.,c. biz--ask Compaq, Hwp, IBM and Gateway--and Dell can't avoid being hit by this. If you watch Squawk, you know that I am just as quick to point out my mistakes--Japan, and Cendant yesterday. I don't regard 7 points in Dell--how much it has fallen since I said I liked it, as game over. Hope that helps. jjc

To: Lazlo Pierce who wrote (234)	6/20/1998 2:09:00 PM
From: broken_cookie	Read Replies (1) \| Respond to of 1254

Dave, That being said, I did think your last appearance on CNBC after the Dell report, where you blamed the shorts for taking Dell down afterhours, was cheerleading on your part. The report, while wonderful, wasn't enough to offset the run from 110(pre-split) to 190 in the 3 months following the last report, and I think in your heart you knew that as well..... The point Cramer was making on Squawk after the Dell release was that instinet trading is illiquid and should be viewed with a grain of salt after major news. He pointed out that the low asks had very small share sizes and could be shorts trying to knock down the stock. He made exactly the same point after CSCO's last release when it traded down on Instinet and he was dead on with that one as CSCO traded up a couple few points that day. He put his money where his mouth was and took on DELL at ninty-something that morning and later admitted that was wrong on TSC. Rather than cheerleading I believe that was his honest opinion at the time. It was wrong. So what. Everyone is. The game is to be right more often or more profitably. And the point about instinet trading is still valid. In fact your assessment of the DELL report is correct. Did you make that call right after DELL announced? If so, congratulations. As for others who say that TSC is a vehicle for Cramer to hype his hedge fund picks. Well, you're entitled to your opinion. But I wonder if you read the thing. Cramer is painstaking in declaring his position about any stock he so much as mentions a one-liner about. I'm a TSC subscriber because the thing makes me money. I will renew next year. JMHO