Wall Street fecha semana sem rumo. Grandes tecnológicas pressionam

[Ulisses Pereira]

"Hedge Funds Already Are Chasing Indices Higher"

By James J. Cramer
01/02/2003 11:02 AM EST




"The pain of the hedge fund manager! The good ones came into this year lean and mean, feeling terrific about how little they lost or how much they made in December from that bearish position.

The bad ones sold everything they could, because they don't know if they will be in business. They haven't counted the withdrawals yet.


The result? No one in the hedge fund community was long enough this morning, so we are seeing this explosion in prices. Hedge funds are furiously trying to put money to work just to show that they have some exposure and to not be down vs. the market in 2003.

Yeah, vicious, isn't it?

Of course, nobody wants to see the whole rally in a day. But that's what happens when hedge funds are so lean that they have no inventory. The only surprise is that they haven't started taking the semiconductors yet.

After reading Tom Kurlak this morning, I guess that's next.

(If only there were some index that allowed you to do the opposite of the hedge fund crowd on a given day -- now, that would be one worth owning!)

At this pace it will indeed be time to do some selling by this afternoon.

Unbelievable. "

(in www.realmoney.com)