I sold ABX at $30.72 down 2.5% today for
FCX at $32.58 down 4.9% gl all, I'm out of this one, FCX is better and down more today so it will pan out better.
I just got back in ABX at $19.65-Friday, sold out at $30.72. Higher lows established from 2009. Sideways pattern established. ABX goes higher with a target of $27!!!!!
I am still holding FCX as well, just a new position in ABX.
You wait two years, ABX will be back to $44 if EPS keeps inline with last CC! $.846 reported EPS last quarter! Someone will buy the whole company if ABX makes new lows,
Enterprise value much higher than market value. BLOOD BUY/ STRONG BUY. I am certain of it, but it is my opinion. GOOD LUCK.
ABX is down 40%
FCX is up a micro fraction!
Huge difference is 3 months I would have to say, those that got it are now seeing the result of that swap!
Darn good swap, if not masterful!
GL out there, just remember, "keep yr stick on the ice"!
you could have bought the index and been up 10%.
you are a dope.
gold stock is FOOLS gold.
all gold paper goes to less than 0 because you have to pay 20% to take possession + insurance.
You didn't know that because you are a gloting 1di0+
OK, let's figure this out?
Let's say one owns the GLD, which is a paper holding "of" 99.8% of assets held in Gold bullion held in a vault, ok.
When the dollar crashes, and gold goes to 5K-10K an ounce- what's the timeframe on that?
When that event happens is it:
5 years down the road?
If one holds gold bullion in his/her "own vault"
1) You have to protect it, or pay someone else to protect it, for many years.
2) What are bank deposits costing for 5, 10, 15, 20 years to hole your Gold?
3) If you have your own safe/ vault on your premises, you have to keep everyone on the planet from knowing about it, and I can guarantee that that is almost impossible to do.
4) Someone will take it from you in that timeframe, then it's gone.
5) I think I would rather pay the 20% to take possesion in let's say 15 years when gold is trading
7-10 times higher, and deal with the small % loss then on that gain.
In fact: One may never have to take possesion of gold bullion, because there will be some other currency created to take the place of the US dollar as World Reserve Currency. You trade your "on paper" gold bullion for that currency then, and now have the "new" WRC. The point is really to hold "paper" of something that will be much higher than paper of something that will be much lower in the future!
In the mean time, I own FCX, and that company has just moved into oil and nat gas! Copper/ Gold/ oil/ nat gas. Better investment than ABX, and others.
I'm up 16.5% from that swap, and FCX is going into oil and gas. I don't want gold paper, but want to be a part of this company's growth ahead. Copper is going to rebound here massively. FCX is good
labor issues? Really, is that why you invest or not invest? FCX is simply a stronger company than Barrick. Boon Pickens called the nat gas bottom last spring in lat March jsut before it bottomed in early April, and he is in FCX now! He is a smart man. FCX is doubling copper output to China this year into 2016. The US infrastructure rebuild will also drive copper prices much higher than where they are now. Currency wars will also drive gold higher now, look at Japan's Yen today, new LOW!