A Strange Suspension of Gravity

I have to say this and get it off my chest, and it is a bit directed at all those who pounded their chests. I will give a hat-tip to those who got long the market at the beginning the year and stayed long despite any doubts about Europe and Greece. However, everywhere you look, just about everything has gone up. Being long meant being right, but to boast about any particular call on any particular stock lately seems just silly. We're back to a monkey throwing a dart at the market.

What do I mean? Take AcmePacket (APKT), for example. I leaned bullish on APKT, and on the basis of report, clearly I was wrong. I had a few hedges in place, and even bought some stock against the put hedges last night. Then today, with a strong market, the stock just shoots higher. The report was awful. Missing already lowered guidance is no reason to buy, no matter how many shares are short the company. The worst doesn't appear behind it yet. It was as if they didn't even want to comment on guidance for fear of repeating this quarter. Yet the stock has done nothing but trend higher....235 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.