And once again, Cramer has proven himself wrong. My rule of thumb is: if Cramer likes the stock, I need to consider selling; if Cramer hates the stock, I should definitely hold or buy more. It has served me well since Cramer insisted that the Venezuelan gold mining company would never be nationalized and that Hugo Chavez had an interest in letting Crystallex mine in Las Cristinas.
He was not only wrong: he was dead wrong and clearly did not understand the politics of Venezuela and its history of corruption and nationalization of any valuable asset. It took CRRC (a wholly owned subsidiary of CREC - a Chinese company)to renegotiate with Chavez to unblock the permitting process and in exchange KRY had to give up a huge portion of its rights and had to take a capital infusion from CRRC. Many shareholders who relied upon Cramer's assertions that the company was solid and that any day the permit would be issued, lost a chunk of money (I was one of them but learned my lesson).
So I still say, if Cramer says "Sell", I do the opposite; if Cramer says "Buy" I do the opposite. That pattern has helped me tremendously over the past 5-7 years.
It's about time that blowhard noticed SCCO. Now we can count on the contrary investors taking another look at the bargain price of this major copper producer. Cramer is as accurate as a coinflip.