1:00 UPDATE AND A FINAL KRY
The 130.1 Pivot Point on SPY remains a big obstacle for the markets today and the market internals have said pretty loudly that we are not going anywhere far today. The DJIA is +39 but the NAZ is flat and the SPX is higher mainly on the oil patch stocks. The Metal stocks continue to act well but the techs and the Volatility guys can't get anything going.The final on KRY is this- the stock is trading at around $6 today(lower by 1%), and the price of gold is approximately $593. When Jimmy said to back up the truck on KRY it was trading at about $3 and gold was trading at about $560 (March 24) .
In September/ October of 2005 the price of gold was trading in the $475 range and KRY was fetching a whole $1.5 and in November of 2004 when KRY was trading at $4.5 and gold was trading at around $450.
Note to self or loyal Jimmy followers: What exactly does the price of gold have to do with the price of KRY?
posted by DAVID at
1:09 PM
3 Comments:
Oops, look at TOPS, a Cramer pick from last Monday on baseball opening day. I think this is an example of how his show is as much entertainment as it is investing. Did he really like TOPS or was it a neat little pick on a day when everyone was excited about baseball?
I have no idea, but I don't think most folks look at investing as entertainment- it is hard earned money- you want entertainment go to vegas
Absolutely nothing. In fact if you overlay the returns on GLD you find that KRY generally leads GLD. KRY hasn't made any money in the past three years and seem to be involved in Venezuala. Not a politically good place to be. But Jimmy said it so that's all it takes.
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