Is the "Gold Rush" over?

Quote from waggie945:

Krudlow and Krapper single handedly called the top in the Metals Stocks late last week. Especially NEM

:eek:
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Cramer fired a guy on realmoney and really laid into him for touting NEM at $25.

He then says, and I quote "short gold" at $400, after being bearish and wrong all the way up. He made no disclosure so I emailed him to ask if he actually had on a short gold position, or was just recommending that his far less experienced retail audience take the risk of shorting commodity futures & volatile stocks, risking real money losses while he himself just risked egg on his face. I also asked if he had a stop which he thought people following his call should use in case he was wrong. I got no reply.

Now he gets bullish on NEM and gold stocks right at the exact top, after a 100% rally from where the realmoney guy originally recommended it.

He has been as completely flat-out wrong with his call as it is possible to be in the markets. He said nothing about risk control. And from his non-disclosure I presume he didn't take a position himself, yet still felt ok recommending it to retail investors.
 
I'm not sure what people are saying. Did Kudlow and Cramer say to buy or sell gold / gold stocks last week? Not that it matters to me from a position standpoint because I wouldn't do something based on what they said anyway, but some posts seem to imply they said to sell and other posts imply that they said buy. Can someone set the record straight?



Quote from Cutten:

Cramer fired a guy on realmoney and really laid into him for touting NEM at $25.

He then says, and I quote "short gold" at $400, after being bearish and wrong all the way up. He made no disclosure so I emailed him to ask if he actually had on a short gold position, or was just recommending that his far less experienced retail audience take the risk of shorting commodity futures & volatile stocks, risking real money losses while he himself just risked egg on his face. I also asked if he had a stop which he thought people following his call should use in case he was wrong. I got no reply.

Now he gets bullish on NEM and gold stocks right at the exact top, after a 100% rally from where the realmoney guy originally recommended it.

He has been as completely flat-out wrong with his call as it is possible to be in the markets. He said nothing about risk control. And from his non-disclosure I presume he didn't take a position himself, yet still felt ok recommending it to retail investors.
More...
 
I bought size NEM/FCX on the open today. Give it 30 mins to range and then a stop at the lows for today if you are interested in the trade.

I just trade these 2. I prefer to invest in the juniors which have much better leverage to the price of gold.

Bidding 405.5 on some more gold futs.
 
Both patterns and indicators suggest to me intermediate-term corrections (dollar up; gold down) in both so I'm trading accordingly. The long-term trends may still be intact.
 
I'm leaving on a jet plane in an hour. I don't like how the futs are trading, so I am just booking the whole trade. +1 on fcx and +.5 on NEM. Good luck to the guys who are long.

Im holding all my junior producers and added about $70,000 to that position. Have bids in under them if they sag some more.
 
Electronically traded mini-sized Gold futures also established a new volume record of 3,962 contracts traded on January 15, 2004, breaking the previous record of 2,648 contracts traded on January 7, 2004.
 
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