Let's Weave a Basket out of Hedges By Jim Cramer About this article: Due? Overdue? Oversold? The beginning of something big? How about just the usual nonsense. In fact, again, as I charted on Columnist Conversation, when we were up 80 cents on oil, we were up 80 points on the DJIA. Two dollars on oil is 200 on the DJIA. Close enough? Glib enough? Look: This market is relentless in its stupidity. You can have gigantic increases in the companies that burn the most energy simply because they are in baskets that trade in tandem with oil. Gold's worse. I saw that there's a new ETF for gold and a bunch of other precious metals, so I figure there could be some solid buying ahead of that launch. What we ought to do, what I would do if I were Mr. ETF, is create the "hedge fund" basket, a basket that has all of the hedge-fund reflation-booming commodity-trade plays with high beta -- namely, Potash , Freeport-McMoRan Copper... To read the rest of this article and sign up for a FREE trial click here...

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