A couple of Cramer’s favorite gold stocks have pulled back as commodities on the whole have declined. Both companies had enjoyed a sizable run in share price, so this dip might be a buy-in opportunity for investors.
“We have to buy these stocks when no one wants them,” Cramer said during Stop Trading!.
Randgold Resources and Agnico-Eagle Mines have dropped about 6% and 5%, respectively, in Monday trading. Cramer had been endorsing the stocks for some time but urged viewers to take profits after GOLD and AEM had moved significantly higher. He’s still bullish on the companies’ fundamentals and recommended Randgold at this level. Agnico-Eagle works at $47-$48, he said.
Elsewhere in commodities, Cramer called Schlumberger under $50 “a pretty good buy.” He said the oil-services firm is having a “decent quarter and year,” and he won’t sour on the stock just because crude prices have come down. He also likes Transocean under $60.
Watch the video for Cramer's reaction to the Goldman Sachs"trading scandal."
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