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Cramer discussing AEM: Don’t like the food here? Here is another BIG plate….

March 20, 2008 4:00 AM

A caller called on AEM tonight and asked what to do with AEM as he just bought it yesterday. Cramer’s advice….buy more as it falls.

My advice would have been to sell it yesterday at $80 and let other’s hope. I would have said short it in reality if I had been watching it.

He still was pounding the table that gold is going to $1600. It might, it might not. I have no idea and don’t much care one way or another - today. Gold could go to $1600 or it could go to $500. All I know is that yesterday the market said sell AEM and/or short it. My readers would be out of AEM at $80, his would be long at $68 and falling fast…..

And yesterday was the worst possible day to buy AEM as the chart was screaming to short it. I honestly feel sorry for the caller who had listened to Cramer, especially since the advice is to hang in there and buy more as it falls. As it falls? Are you kidding me? Too bad that guy didn’t read StockBlade.com, he wouldn’t be in that trade.

Doubling down or buying more when you are WRONG is like eating at a restaurant and hating the food…and they offer you another BIG helping….

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