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He did say sell Gold!
Mike
Mike
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Re: Cramer WAS right!
credit where it's due...Originally posted by Mega View Post
may 2006 'buy'...
Cramer Bullish on Gold: A Contrarian's Worst Nightmare?
By Ben Abelson
05 May 2006 at 04:50 PM GMT-04:00
With CNBC talking head Jim Cramer declaring his all out bullishness on gold, and helping to push up stocks like Goldcorp and Northgate Minerals, should contrarian gold bugs be running scared?
NEW YORK (ResourceInvestor.com) -- In the traditionally contrarian-minded gold-bug investment universe, CNBC’s Jim Cramer is about as far as most people get from an investment guru. Widely reviled as the most public face of so-called “TOUT TV,” gold bugs and bearish investors are fond of bashing Cramer’s picks and brash style throughout contrarian blogs and websites.
So, it probably came as a surprise to a few precious metals investors when Cramer declared gold one of the “10 Strongest Bull Markets” in his April 20 “Real Money” column on TheStreet.com.
In the item, Cramer noted:“Looking for the bull markets? Let's just recount the strongest so you know where the hunting is best.Most precious metals investors, this correspondent included, are entirely more comfortable buying shares when others have their heads in the sand – during a classic stealth bull market in other words. Given Cramer’s bullishness, should precious metals investors be running scared?
1. Gold, plain and simple. Cheapest: still Goldcorp. Most speculative with biggest payoff: Crystallex -- yeah, it's in bed with Chavez, but he needs to put people to work and gold mines do it better than anyone else. Worst: Newmont. It's running out of gold and seeing higher finding costs, but you know what? It's the worst house in a great neighbourhood.”
march 2008, 'buy'...
the real smart guys were rbc...March 03, 2008
Cramer's New Play For $1,600 Gold (AEM)
Jim Cramer came out on CNBC's MAD MONEY tonight, predicting huge gains in gold and he thinks that the current sub-$1,000 per ounce prices may go to $1,600 per ounce. He started talking about Basketball's March Madness and a "Sweet 16" his "sweet 16" targets all revolve around "$16" for commodity prices.
Cramer thinks that most of these gold companies have no risk to earnings with prices rising higher and higher. His new top pick in the gold sector for new buyers that haven't bought a gold stock is Agnico-Eagle Mines Ltd. (NYSE: AEM). He noted that it is growing production and is is the second lowest cost producer. It also has a small uranium twist. We'd note that is different than his "value pick" in gold he gave in early January, and that pick is actually up almost by 50% after a huge move today. He recently featured Agnico's CEO on CNBC, and said he was unprepared for how bullish he felt.
RBC: Sell Gold Positions Now; Buy During Summer
by: FP Trading Desk posted on: April 10, 2008
In the short term, investors should take profits in both gold and gold equities as the summer usually brings a slowdown, and the U.S. Federal Reserve’s easing cycle may be coming to an end. They should then consider buying at lower levels in June and July since there should be a rebound in the gold price in September and October, which is typically a period of seasonal strength.
This is the view of analysts at RBC Capital Markets, who noted that the average one-year return on gold equities following the beginning of an interest rate cutting cycle by the Fed is 17%. The current cycle began roughly six and a half months ago and gold equities have returned more than 20% since. Meanwhile, the average cycle lasts roughly eight months, they told clients in a note.
They noted:As the positive impact of a rate cutting cycle takes effect and the economy recovers, gold generally begins to underperform the broader market.So while RBC thinks gold will likely consolidate at lower levels, analysts do think it will make another run at US$1,000 per ounce later in 2008. They also think recent speculation that the IMF could sell up to 400 tonnes of gold is already priced into the market.
As for specific gold producers, RBC prefers Kinross Gold Corp. (KGC), Harmony Gold Mining Co. (HMY), Newcrest Mining Ltd. (NCMGY.PK), Centerra Gold Inc.[CG/TSX], Jaguar Mining Inc. (JAG) and Western Goldfields Inc. (WGW), recommending that clients boost their positions in these names during the weaker periods ahead.
and itulip...
so we have, what, another $50 or so to go?
Gold Update: The small trade within the big trade - March 5, 2008
Within the current rapid speculative trade, we are watching for short term price volatility much as occurred at the end of the previous similar period C (H1 2006): a 20% correction from $720 to $580. A similar correction today would take gold prices down $200. We are also within the long term for volatility that will portend the end of the currency depreciation and inflation trade that began in 2001.
Based on that forecast when gold was trading at $974 that day, the reverse of the rapid speculative trade by funds can be expected to take gold down to the high $700s. -
Re: Cramer WAS right!
When gold hit $1000, Mish said he sold his gold and indicated that it would be a long wait for it to return to $1000.Comment
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Re: Cramer WAS right!
Its not as bad for me because i bought in @ about $840 ish.....the £ was over $2 then, now $1.90 & falling. I suspect by Nov we see things moving the other way.....some what!
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