Mad Money Machine

OK We’ll Play. KRY Today

Let’s do some speculatin’. Jim says Crystallex International (KRY) is a must own and is the new 2006 stock (formerly Allegheny Technologies ATI already up 80%).

Crystallex will go higher, according to Jim, because of gold prices and because of Hugo Chavez. He says that Wall Street is worried that Chavez will nationalize the company, keeping the stock price down. But that once the state’s Environmental Commission approves its mining operation, it will be clear that it will not be nationalized and will get a big pop. Plus it is the largest, cheapest gold mine around and could be a takeover target. If so, it could go up FOUR TIMES.

So we’re going to buy it in two stages, half right now and half again at 3:30 today. I just bought some myself at $5.40, so that’s the price I’ll use for the first half. This will be the stock that fits into the speculative slot of the Cramer Featured Stocks portfolio of the Portfolio Smackdown.