I admit I have not followed KRY or Cramer much lately but if there is amusement to be had I am on it; Well low and behold a few folks like Bill Cara have posted about a Cramer flip flop on KRY as he now sees some political risk. The realmoney.com site on January 16, 2007 noted this about KRY and Jimmy:

"Crystallex (KRY) : "I have walked away from Crystallex and endorsed Yamana (AUY) ." Cramer said he has done so because President Hugo Chavez of Venezuela, where Crystallex does its gold mining, "has proven to be a recalcitrant, pseudo-Communist."

Back in April of 2006, I wrote the following from information in the companies SEC filings:

The company identifies the following as a country risk- The companies principal properties are located in Venezuela and as such the Company may be affected by political or economic instabilities. The risks associated with carrying on business in Venezuela include, but are not limited to civil unrest, terrorism, military repression, extreme fluctuations in currency exchange rates and high rates of inflation.

When Jimmy first began discussing the equity, it traded between 4 and 6 as "the crowd" rushed in to buy. Those prices have not reappeared and now the crowd apparently wants to exit and prices are a bit lower, say 50% lower. I just don't get it; when there are so many other precious metal equities available; to pick this one, just a terrible disservice.

In addition, I suggest that anyone who hasn't read the CXO Advisory site's critique of Jimmy's money making ability titled "Cramer offers you his protection" to check it out pronto.


Anonymous Anonymous said...

If you remember ,Kramer also stated this was a very speculative buy , and it was .So move on .

4:14 AM  
Blogger Marlyn Trades said...

Marlyn Trades says -
No - I can say on my BLog that xyz is a very speculative buy and the people who read it there understand what I am saying - Kramer's fans - the folks who actually bought KRY really didn't understand that - he does a giant disservice by acting the clown and pretending to be something he isn't - the all wise, all knowing, all seeing guru.

Bad stock advice is just that - bad stock advice no matter what the adjective used to modify it. Especially when it comes from a trusted source.

6:36 AM  

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