GOOG I-Watch

11/21/2005

Nov 21 - To Infinity...

On the air and in print, Jim Cramer never ceases to amaze. This time he insists that, 'I'd cover before it's too late.' Nevermind that the column reads like something off the Yahoo boards, with a patronizing narration of how the little man went about short selling, and his pending doom if he doesn't stop. It's the absurd and brazen lack of perspective that puts this one over the top. Given that Cramer--along with the entire 'financial media' estab.--never ever advises anyone to sell short, where's the credibility in telling them to cover? It's a fine line to cross, sort of like imagining you are Master of the Universe and telling others you really are. "Take heed," says the Master. How magnanimous.

An Intel-Micron deal is a good sounding reason for the slide in SanDisk today. At the very least it was the media's official reason. The real reason was profit taking after an incredible run. Expect the same from GOOG and maybe AAPL, news or not. Of course SNDK's breakdown was the short opp today. Covered GPS 17-17. Covered BIOM 1.75-1.60. Covered RNWK 7-7.70 to free up cash.

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