Monday, May 14, 2007

Cramer Strikes Golden Star Resources!

I watch the price action in several gold stocks and saw some strange action in Golden Star Resources (GSS) the other day. I remember seeing the price jumping in the pre-market on the CNBC ticker. I was interested because I was waiting for GSS to pullback to the 3.70 area so I could pick up some shares. Well it didn't take long to find out that Cramer had given one of his very convincing recommendations the night before and people were clamoring to buy, buy, buy. It also didn't take long for all of the "smart money" who were originally selling GSS to dump their shares to the Cramerite morons.

It just amazes me that Cramer still hasn't burned out by now . Just look at the chart. The volume that day was massive, meaning that large numbers of his disciples are now in losing positions. There hasn't been so much as a bounce since then. What really sucks is that GSS is now filled with so many weak hands that it will take forever to get back to the highs (which is what really pisses me off!) I mean its like a raging, mindless horde has come into the fertile fields of GSS and not only burned the crops but also salted the soil.

I for one will not being buying GSS in the foreseeable future.

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