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Barrick Gold Corporation Message Board

  • TheRomans TheRomans Aug 31, 1998 1:14 PM Flag

    As I stated before

    if you hold ABX, buy out of the money PUTS and sell calls.


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    • Thanks for your Sept 1st response to my message # 2584. I have been on vacation for 12 days and haven't had an opportunity to answer. Thanks Again as I value your opinions. Regards. Irish

    • that pitiful excuse for advice.

      I bought
      this company to do one thing, mine and produce
      precious metals. If I want diversification I will do it
      how I see fit.

      You should not own a stock, buy
      mutual funds!

    • It is much more likely that oil prices will
      decrease in the near future. The Arab countries have a
      very hard time getting their cartell togeter to
      effectively regulate the price of oil. Each Arab nation is
      more affraid of other Arab nations climbing to power,
      and therefore their ability to cooperate is
      short-lived at best. Also your presumption totally neglects
      that Russia may soon flood the world with very cheap

    • I believe that for the short term you guys in the
      last few posts are dreaming with hope. I wish you the

      I do not see ABX keeping this route as it is not
      doing anything for shareholders. With all of their cash
      they keep announcing share repurchases! and the stock
      keeps going lower. Lost over 80% of the value of their
      own shares they just bought! They are deeper in the
      mud now that than they were a year ago. They should
      be diversifying into something else, I wish they had
      bought Dell, Apple or even treasury bills!

      will continue under pressure for a long while, the
      Russian crisis gave gold a beating! it should have been
      the other way around!

    • The price of oil could again reach the levels of
      the 1970s if the ruling elites in the Arabian Gulf
      states are ever replaced by Taliban-style governments.
      Ascetic holy warriors, after all, don't need to keep
      pumping oil in order to finance lavish lifestyles.

    • You have really provided a good analysis of what
      the central banks have done to themselves and to us
      as investors and how they accomplished it. You would
      think that the people who control those banks and the
      governments that influence them would have considered what
      could be the end result of such foolish actions. Do you
      have an opinion as to any means the banks will take to
      extricate themselves from the situation they have created.
      Or do you have any belief regarding whether this was
      done intentionally to drive the price of gold down,
      perhaps to be acquired later at much reduced prices.
      Thanks . Irish

    • listen up, and think people. the big gold
      producers are selling gold, this is like saying that the
      north pole is selling snow. of course they can sell
      some of what they have a lot of. the bottom line is
      that when gold is in favor they can reverse course and
      power ahead of the dollar/market. you don't see cb's of
      hard currency countries selling any gold--their
      probably buying. poland wants in to the ecu/be a world
      market player so they are buying physical gold. gold is
      the place to be and it takes a while before the big
      gold submarine will surface.

      i think that gold
      will be the glue to hold all these
      currencies/countries together US included. let me ask the question..,
      what else, other than gold, will fix all these
      problems that the "world" wants solved? a little gold goes
      a long way when properly administered to the ailing

      russia will be fine. they have gold. you
      don't think soros lost a ton of money for fun do you?
      soros looks like a hero, and wasn't it nice of his
      number one guy to tell us on CNBC last week that they
      lost a ton in russia. dont be duped, gold is the
      cure/the only cure.

      come on people...don't listen
      to the cb controlled media. use your heads. gold
      trader is using his, now start doing the homework or be
      suckers, waiting for someone to tell you what to do at the
      exact right time.


    • but considering it. Sorry, am a novice at puts and calls. Mind explaining to a neophyte what you mean by buy out of the money PUTS and sell calls? Thanks for your help.

      • 1 Reply to memphis_blue
      • before trading options you should get a hold of
        some educational literature. for starters, the Chicago
        Board Options Exchange will send you free of charge,
        "Characteristics and Risks of Options Trading." you can reach the
        CBOE at 1-800-OPTIONS. They have an education dept.
        which provides a lot of free literature.

        A good
        book which i recommend for beginners is "Getting
        Started in Options," by Thomsett. It is soft-cover and
        written in plain english...a good beginning text. you
        should be able to find it (or at least order it) through
        one of the larger bookstores.

        Do some reading
        before attempting to trade options. But in a nutshell,
        Roman is talking about hedging strategies. If you own
        the stock and sell call options against it, you are
        giving someone the right to buy the stock from you for a
        specified period of time, at a particular price (called the
        strike price). The income which you bring in reduces
        your cost basis in the underlying stock.

        puts is a directional trade...the puts will increase
        in value as the stock price goes lower, helping to
        offset a portion of your losses on the underlying stock.
        However, the puts cost money, which will effect your net
        returns, and they can expire worthless.

        I think these strategies have more merit when the
        stock is trading toward the top of a range. selling out
        of the money calls won't do much at this juncture.
        If you are bullish gold, i would be inclined to go
        long some stock here and perhaps sell the covered
        calls on a bounce. but that is just me.

        that helps a bit.
        thanks and good luck,


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