Jim Cramer had a lot to say about GOLD tonight

edmundfitzgerald · August 22, 2011 8:21AM

On his show he said he feels like Europe is in trouble. That he's always liked gold, but people need to use the GLD to position themselves
more into gold if they don't have enough exposure. He said if you're 20% or higher into gold, then trim a bit, but it will go higher after
any pullback. He said he doesn't like any miners except two. He said you would think in this environment that more mines would be
set up, and the established ones would be pumping out the gold, but he said that ain't happening, and the miners are going to continue
to struggle in this gold bull run. He overall seemed very bullish on physical, and very down on Europe. He also said that most
hedge fund managers believe we're heading for a recession, and that stocks are not a good option right now.

Got Gold ?

roadrunner · August 22, 2011 8:40AM

The fact that he could only pick 2 miners as being any good out of about 100 leading companies doesn't say much about his research ability.
He was hot on Eldorado Gold last year and they got hammered following the December pull back.

roadrunner

percyb · August 22, 2011 9:24AM

<< <i>The fact that he could only pick 2 miners as being any good out of about 100 leading companies doesn't say much about his research ability.
He was hot on Eldorado Gold last year and they got hammered following the December pull back.

roadrunner >>

Cramer is a pretty good fade. It's like he just woke up to Europe's problems....jeez.