That doesn't tell me there's a top in gold – that tells me the parabolic, hyper-speculative phase is imminent. You know the one I'm talking about... Where the chart becomes an Empire State Building and Donald Trump announces the first-ever Mine & Casino somewhere out west.
Read this recap of last night's "Mad Money" and get scared:
"Gold is not just another commodity," Jim Cramer told the viewers of his "Mad Money" TV show as he once again urged investors to put up to 20% of their portfolios into gold....Cramer once again gave the nod to Eldorado Gold and Agnico-Eagle Mines, along with the speculative Novagold, a stock which he owns for his charitable trust...
Seriously, after a 10-year run, a recommendation to the least sophisticated audience imaginable to put 20% of their assets in gold. Yes, he said "assets", not "portfolio" on the show, but we'll assume he meant "portfolio" and give him the benefit of the doubt. Oh, and he sent his viewers to buy...
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More on gold:
How to know if you own enough gold
Brace yourself for the coming gold shortage
Casey Research: Four big signs that it's time to sell your gold
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