Barrick Gold Corp
By Steve Abraham on Sep 06, 2007
WOW! That pretty much sums up the action in Barrick Gold Corp, symbol ABX today. Stock broke out to a 3yr high on nearly 3 times the average volume over the last few months. Technically, there isn’t much to quibble about. I could not find any specific news on this stock other than the fact that the “experts” consider it a safe haven stock along with the other gold stocks. ABX looks like a keeper. Here is a weekly 3 yr chart:
5 Responses to “Barrick Gold Corp”
I think its a safe play until the market finds some direction. If the fed starts to lower rates, then I like the tech heavyweights: APPL, GOOG, GRMN, RIMM, AMZN, PCLN, CSCO, AND INTC. Tech usually rocks at year end. We’ll see. Thanks for the note.
As someone said earlier, gold me continue to climb due to American interests. Wizetrade shows climb also.
Last time I heard, this stock had a lot of foriegn investment interest. When it comes to commodities, many long-termers invest. That’s why there’s a positive constant upward trend. I didn’t even need wizetrade to tell me that.
More gold! As some one said earlier, when stocks become vertical upward trends, they will falter downward. Investors get ancy. Wizetrade has saved me numerous times over these crappy trends. RIde it, if you’re at the bottom, but beware of the top toppling over.
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Absolutely, the volume on ABX has been tremendous as it has been breaking out. The stock looks like a good short-term momentum trade, though I would get out before too long since I’m not so convinced about the long run.