Jim Cramer's 'Stop Trading!': Gold Is Back
Gold is back, Jim Cramer said on CNBC's "Stop Trading!" segment Thursday.Cramer dismissed Wall Street observers' claims that the dollar is correlated with oil. "Oil is correlated to supply and demand," he said. "The stocks are signaling that gold is going higher." He recommended Agnico-Eagle Mines (AEM) - Get Report and Yamana Gold (AUY) - Get Report. "They're not done going up," he said.
"Retail was a great trade," Cramer said, but "we're finished. I want to sell retail." He instructed viewers to get out of
Nordstrom
(JWN) - Get Report
,
Phillips-Van Heusen
(PVH) - Get Report
and
VF Corp.
(VFC) - Get Report
.
On the other hand, "
Wal-Mart
(WMT) - Get Report
is the keeper in this group," Cramer said. However, he observed that "
Kohl's
(KSS) - Get Report
said good things, the stock is going down. This group has had it." He was also bearish on
Target
(TGT) - Get Report
.
Cramer then moved on to discuss oil drilling in India. He said companies like
Transocean
(RIG) - Get Report
are "really talking about India."
Cramer also recommended
Discovery Holding
(DISCA) - Get Report
, saying the company is unwinding its "convoluted ownership structure," and noting that the stock is a "green play."
At the time of publication, Cramer was long Yamana Gold and Discovery Holding.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click
here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click
here to order his book, "Real Money: Sane Investing in an Insane World," click
here to get his second book, "You Got Screwed!" and click
here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by
clicking here.
TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.