WILD RUMPUS BEGIN TV

Often, more money is made in the third or speculative phase of a bull market than is made in the first and second phases combined. This is the phase where the institutions and funds join in the bull market show. I believe we are deep into the second phase of the gold bull market. This is the phase where students of great values take their initial positions. I believe the first phase of the gold bull market has passed. Most bull markets progress in three psychological phases. Richard Russell, a phenomenal newsletter writer ( Dow Theory Letter) but horrendous forecaster of anything, is now saying that gold has entered the thrid and final bull market phase - the speculative phase.

I'm not a Cramer-basher, I've always liked the guy, but this is bananas. Many of the large cap miners have lagged gold, and I get Cramer's point about how small their combined market caps are - but still. Oh, and he sent his viewers to buy the individual miners now instead of the metal itself. Yes, he said 'assets', not 'portfolio' on the show, but we'll assume he meant 'portfolio' and give him the benefit of the doubt. Seriously, after a ten year run, a recommendation to the least sophisticated audience imaginable to put 20% of their assets in gold.

WILD RUMPUS BEGIN TV

'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 Read this recap of last night's Mad Money and get scared: Where the chart becomes an Empire State Building and Donald Trump announces the first-ever Mine & Casino somewhere out west. That doesn't tell me there's a top in gold - that tells me that the parabolic, hyper-speculative phase is imminent. Richard Russell, James Cramer and my mom all agree now - gold is the move.

Wild rumpus begin