Barrick Gold Corp (USA) (ABX)
A gold mining company in the world in terms of production, reserves and market capitalization.
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Telechart Pick
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Being one of the best gold miners in the world Barrick will go up as gold goes up.
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Everyone's a dollar bear these days it seems.
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Gold Bubble
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Peter Schiff is a d*ck leech.
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Profit takers came out today, 10/15/09. Gold should continue its rise over the next 6 to 12 months according to many international metals experts. ABX should only rise with the metal they mine.
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Higher gold price anticipated in the prices of gold stocks after expected profit taking, but long term, I like the metal.
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Long-term investment on rising gold prices with stable energy prices and labor costs.
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They have bought back their hedges, they should take off eventually.
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2/30 in Gold -(63.7@B+/A+)
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Hedged. And Screwed!!
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Not just a reality check, but how do you close your hedge book twice, and possibly another $2B to go
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When everyone moves into precious metals...its time to think about getting out. Barrick also hedged their ventures too extensively which will require an adjustment over the mid-term (2+ years).
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WILL ONLY GO UP
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Although a major, they've also HEDGED their output which is idiotic in a true bull market and if I were running the place, I would NEVER EVER have considered hedging under the circumstances the market conditions which have existed since 02' when I started investing in this sector (originally in mid-cap GoldCorp and did quite well, thank you!) Even with last year's thrashing, it's amazing the comeback that's taking place. There are many reasons for this that I need not gloat over. I just consider the opposite views of Nadler and Gartman and voila! I'll do well in the long term.
Did I read correctly for them to close these hedges that $10billion will be spent? That's a LOT of gold, even for a major their size. Still, I'm a bit edgy about throwing this baby out with the bathwater this early, especially if a RUSH comes up. There will be suc.. I mean, buyers who are clueless to this single development. Although they'll likely lose, at least in the medium term, the major's size may garner them more short term appreciation and could even break even or gain profit if gold skyrockets in the LONG TERM and I'm rather mindful of that possibility. I've also learned that perception = reality to many.
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BECAUSE THEY HAVE A LOT OF GOLD!
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Goog growth.
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Another miner - will explode when inflation hits.
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People are still scared, and running to gold.

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