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Jul 24, 2008 2:19 AM ET | Site Changes | Help
A gold mining company in the world in terms of production, reserves and market capitalization.
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TMFSinchiruna (95.41) Submitted: 4/17/08 3:29 PM : Start Price: $42.69 ABX Score: 4.82
Barrick is a short-term buy here to ride from $45 to $50. For those who read my blog, you know that I issued a warning on Barrick on January 28, 2008, on the basis of some huge insider sales of stock. http://caps.fool.com/Blogs/ViewPost.aspx?bpid=31796&t=010061...I believe it's possible that they either determined the present correction was imminent by means of technical analysis, OR... they had prior knowledge of a coordinated smack-down of gold by the major investment banks. I suspect the latter. If that's the case, then it's safe to get back in for a while.However... both through Yahoo and my trading account's platform, every attempt I make to check recent activfity for insider transactions for Barrick comes back with 'no available data'. Rather mysterious if you ask me. For this reason, I don not recommend being long here, but Barrick back at $50 as gold heads back to $1,000 is a no-brainer.
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jgseattle (< 20) Submitted: 6/13/08 12:11 AM
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What happens to your opinion of ABX if the FED starts raising interest rates?
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chickenghost (< 20) Submitted: 7/14/08 11:50 PM
Gold is going up, but Silver will do even better. There isn't a chance for the Fed to raise rates until after the election, there is plenty of time. Plus the dollar is so weak, our creditors havn't woken up to the mess they are getting in to. Inflation is going to get a strangle hold on us and any Fed rate hikes will be too late to stop the Gold and Silver run.
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