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goldminingXpert (29.51)

The Goldcorp is Dead!

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8

October 02, 2008 – Comments (11) | RELATED TICKERS: GG

Thank goodness. Down 5 points today to 27. These poseurs have fooled a lot of people into investing in hype and hope rather than solid big-cap miners like NEM and ABX. GG is a $10 stock once the gold hype dies down. I hate these guys, and at last, the market's coming around. You've never seen share dilution like GG does it.

Disclosure: Short GG. 

11 Comments – Post Your Own

#1) On October 02, 2008 at 2:19 PM, Bays (30.03) wrote:

What do you think about ABX if it comes below 30?

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#2) On October 02, 2008 at 2:44 PM, goldminingXpert (29.51) wrote:

I like Barrick here. I would buy part of a position--scaling on in at 30 makes a lot of sense.

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#3) On October 02, 2008 at 2:48 PM, Ph1sh55 (28.51) wrote:

All gold stocks are down big though, like AUY, JAG etc, how are you singling them out as dead.

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#4) On October 02, 2008 at 3:02 PM, goldminingXpert (29.51) wrote:

Gold miners index only down 11%, GG down 14%... the worst drop hardest.

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#5) On October 02, 2008 at 3:09 PM, goldminingXpert (29.51) wrote:

Gold miners index only down 11%, GG down 14%... the worst drop hardest.

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#6) On October 02, 2008 at 4:02 PM, goldminingXpert (29.51) wrote:

-18%! Bwahaha.

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#7) On October 02, 2008 at 4:19 PM, jesusfreakinco (28.95) wrote:

Who will be the big winners in the upcoming gold rally?

 

http://tinyurl.com/22ldz

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#8) On October 02, 2008 at 4:22 PM, pjani06 (29.13) wrote:

you have the most beautiful score performance chart of anyone here on CAPs.

keep on truckin'

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#9) On October 02, 2008 at 4:36 PM, Tastylunch (29.36) wrote:

Thanks to you and Dwot, Gmx I sold my Goldcorp (in rl) at a big gain a while back. Kind of embarassed I had it at all, but hey I wish all my mistakes made me money . :-) lThanks for the insight

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#10) On October 02, 2008 at 6:07 PM, XMFSinchiruna (27.00) wrote:

Kudos to those who avoided this big decline, but GG is a clear buy here. You have a company selling for $19 billion that has $36 billion in proven and probable gold reserves valued even at today's hugely depressded gold price of $836. As one of the lower-cost producers in the industry, thanks to their 1 billion ounces of silver, 1.5 billion pounds of copper, plus appreciable lead and zinc, GG is poised to be among the top gainers from gold's rise. Recent acquisitions in the Red Lake region of Ontario will bolster those resources significantly.

The reason GG fell hardest today is because it is among the most popular equities among not only newbie investors but also hedge fund managers. Both of those groups of investors were big-time sellers today.

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#11) On October 02, 2008 at 6:19 PM, goldminingXpert (29.51) wrote:

-18%! Bwahaha.

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