Today’s Rally In AEM Is Nonsense
May 8, 2008 11:43 PM
The stock that Cramer told a caller to “buy more” near the highs, AEM, rallied today. I suspect Cramer has not mentioned that stock call lately as he is getting crushed. I even mentioned that very night (see earlier posts) that he was dead wrong, and it was a short, NOT a double down. Anyhow, today’s move up is a sucker’s rally…and the short will come up higher on strength. This is an overhyped, grossly overvalued stock, and longs will be very fortunate to escape it on further strength. Today was a trendbreak, nothing more.
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