Jim Cramer Blog

It seems like today was the day for the next batch of Google news that tends to send the stock soaring. This past week, I got tired of waiting for this news and sold most of my shares. This is the bottom that we have all been looking for. After all the bad news that has plaguing this company, whether it be getting nailed by an unexpected tax rate or a slip up by top executives in the company, this is exactly what was needed to push this stock out of the current hole that it has been in. Now, because they have been added to the S&P 500, mutual fund managers across the country will not only add this stock to their portfolios, but will be forced to buy the stock because they promise a certain asset allocation in their respective prospectus'. As of tomorrow morning, all of those lofty estimates the analysts on Wall Street predict will finally have some credibility. I'm now reconsidering my move last week selling the stock, and the chances of my company buying deep in the money options are pretty high. I feel this is the best way to get in at this point. A further update will be given around noon when the stock has leveled out.