Home› Precious Metals

Jim Cramer is 100% gold mining stocks

edmundfitzgeraldedmundfitzgerald Posts: 4,306 ✭✭
in Precious Metals
Said it on CNBC today 11/4. His retirement account right now is 100% in mining companies only.
His charitable trust is not.

Comments

  • jmski52jmski52 Posts: 22,825 ✭✭✭✭✭
    Well, that's a surprise. At least the guy is willing to say what he's doing. Did he mention why he's doing it? That would be interesting.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    BOOYAH! He's the man with the plan!image
    Avid collector of GSA's.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Wonder if that helped give a number of miners a jolt as it seems the whole sector went nuts today. For the first time since June when I began watching all listed US gold/silver stocks, there was not a single negative in today's bunch. That's out of 60 or so stocks. Cramer has already mentioned that he likes Eldorado gold more than any other leading producer.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • BearBear Posts: 18,953 ✭✭✭
    If Jim is 100% in, then I am out. He is the voice of hype, when the parade is
    coming to an end, at least temporarily.image
    There once was a place called
    Camelotimage
  • DoubleEagle59DoubleEagle59 Posts: 8,308 ✭✭✭✭✭
    Cramer is an idiot.

    You pick 800 different stocks and flip flop back and forth every 24 hours, you're bound to get something right.

    (I do want to add that I believe mining stocks is a great place to be. But it didn't take Cramer to tell me and convince me so).
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    Looks like the idiot took my advice. My IRA gained 8 percent in the last two days. It's 100% mining: 35% gold, 55% silver and 10% REEs. Anything that spikes on Monday will get sold off and I will repurchase on a drop.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    If Jim is 100% in, then I am out. He is the voice of hype, when the parade is
    coming to an end, at least temporarily

    Cramer is right this time. Mining stocks will be a good place to be over the next couple of years. The miner's action has completely changed over the past few months and esp. in the past few weeks. Hard resistance at 520-530 has been taken out after multiple failed attempts over the past 3 years. Just comparing miners to bullion one can see that they have underperformed gold since the 2008 peak. One explanation I've heard is that the easy money in the miners was made from 2000-2006 when many went up 5X to 10X. They did ok from 2006 to 2008 but not any better than gold. Any late comers to the party in 2006-2008 probably got their head handed to them in 2008...and then they've waited years to finally see them break even again. So that's a lot of people who initially got sucked in and have probably cashed out for good. And that's the impetus the miners have needed to go to a totally new level. Weak hands have been shook out and only strong ones are left along with a new batch of fresh faces. Based on a 3 year neckline at 520, and the 2008 low of 150, the target for the HUI is 890...or about 62% higher from here. Copper, platinum, and other metals are dealing with the same multi-year breakouts right now. Palladium has already launched.

    My IRA also in 100% miners/cash as appropriate.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    Cramer is a contra indication.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • fishcookerfishcooker Posts: 3,446 ✭✭
    Big deal. I did that over a year ago.
  • johnny9434johnny9434 Posts: 28,310 ✭✭✭✭✭
    cooooool. jim cramer brought to you by goldman sachs. not happening here kiddo
  • DeutscherGeistDeutscherGeist Posts: 2,990 ✭✭✭✭
    Did anyone keep a CramerIndex over the years to see if his advice even holds any water?

    Mining Companies are going up? Oh wow, what a revelation....the World Financial System is suffering, of course gold and silver are the place to be now....it does not take a rocket scientist to figure that out. What did he say when gold was below $300? That was actually the right time to buy, but Great Britain thought it was smart to sell half its holdings during that time.
    "So many of our DREAMS at first seem impossible, then they seem improbable, and then, when we SUMMON THE WILL they soon become INEVITABLE "- Christopher Reeve

    BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
  • percybpercyb Posts: 3,324 ✭✭✭✭


    << <i>Said it on CNBC today 11/4. His retirement account right now is 100% in mining companies only.
    His charitable trust is not. >>



    Gold mining stocks have been laggards. Now I know why. image
    "Poets are the unacknowledged legislators of the world." PBShelley
  • KUCHKUCH Posts: 1,186


    << <i>Big deal. I did that over a year ago. >>



    So you're the financial guru. Where have you been? If u are 1 year ahead of Cramer...... what new tech stock under $5.00 is the new Apple?
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    That was actually the right time to buy, but Great Britain thought it was smart to sell half its holdings during that time.

    I think the majority of the British knew it was a dumb idea to sell their gold. But Treasury head Gordon Brown forced that through with support from the gold cartel/banking elite. They needed to keep gold down so as not to trigger any signs of impending inflation or other problems with the monetary/financial systems. As it was, they delayed gold's ascent by a year or two. And Brown was well rewarded for his team efforts by later being selected as the next Prime Minister. This 1999-2001 period was critical in handing over the reigns to unregulated otc derivatives, breaking down Glass Steagall, and other important legislation. The last thing they needed was for gold to "go off" and sound an alarm while the transition was in progress. Britain's gold saled helped give them the boost they needed.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
Sign In or Register to comment.