Hi Jim: I am 23 years old and invested all my savings into Barrick Gold. I was hoping to capitalize on gold going up. In the past week I have lost a lot of money with gold stocks coming down. Please Jim, do I cut my losses or hope that gold goes up again? --Ryan
Cramer says: “I like gold stocks. I think that 10% of your money should be in gold. Listen to that percentage – It’s 10% … I don’t care that you’re 23 and got your whole life ahead of you. You are going to trim right into the unbelievably good earnings report of Barrick. The stock is up … You are not diversified. You are risking way too much.”
Dear Mr. Cramer: I have had a very fruitful summer regarding triple-digit gains (thanks in large part to Cramerica). However I have found myself in quite a predicament. In the last six weeks I have watched my entire summer gains be vaporized with the avalanche that is STEC. It could be said that I have dug in my heels, however my thesis has not been proved wrong yet. Given the deplorable market as of late and the unbelievable slide in the stock over the last six weeks, is it time to cut it loose or ride it out? I'm in a tailspin – please help! --Bryan from Florida
Cramer says: “Would you be in a tailspin if only 10% of your portfolio were in STEC? Of course not … STEC is not one of my favorites … make the trade. You don’t need this angst.”
Call Cramer: 1-800-743-CNBC
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