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To: pater tenebrarum who wrote (104030)	5/22/2001 3:49:14 PM
From: ild	Read Replies (3) \| Respond to of 436258

Cramer saved us! James J. Cramer Not Going for the Gold By James J. Cramer 5/22/01 2:52 PM ET URL: thestreet.com Is the gold move over? The fact that 6.8 million shares of Newmont Mining (NEM:NYSE) priced this morning at the uncompelling price of $23.25 says it is. So often with these gold moves, what happens is that the stocks have giant short runs. No supply seems available and the stocks look as if they are breaking out for good. People get short the stocks, and the bulls keep charging and charging and charging. And then someone "in the know" lets loose a big steaming piece of supply, like these 6.8 million shares of Newmont that were sold before the opening (at 8:30 a.m.), and all of the shorts get filled, all of the longs flip their positions and the run ends. It is why I have eschewed every one of these gold runs for the past 17 years. Because every time they really get going and the champions come out and praise it to the skies and say this time it is for real, you get hit with a giant piece of one of these stocks and it kills the whole move. It is like a giant wet blanket thrown onto a kids' campfire. It annihilates the flame. Do I think this chain of events is going to happen again? I play odds. The odds say yes. It is one of the reasons why I grilled Don Luskin so hard this morning on his posture on the block because, if history serves, the gold bulls scare easily and head toward the hills at the first sign of supply. Was I too rough in my questioning? If this were sports, maybe. If it were kids, definitely. But this is money, and there's nothing too tough about RealMoney.