Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

ABX 7.920

-7.4%

Jan 2 9:30 AM EST

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To: Ross who wrote (260)	12/18/1997 11:57:00 PM
From: Zardoz	of 3558

My analysis agrees that there will be a slight downturn from Monday. But I have no pretty charts to share. I shorted my position today at $26.50, cause that was $1.00 below what I deemed fare market value for the price of GOLD, & ABX{that worked out to $26.50 for ABX}. Message 2897088 Fare market value is based on a lot of things, including currencies. As of today close at 5:15 EST the fair price of gold was $3.75 above spot GOLD. This is made up of borrowed reserves & short selling. Under an IDEAL system you should see GOLD rise by that price by Thursday close. BUT life isn't perfect. {I used 286.75 for close} And I couldn't wait. ABX price is in CDN dollars... IF I had bought the Call options for DEC {as I should under my system, or Jan} it would of cost $0.35 which would of been sold for $4.00 <sniff> No guts no glory! PS: After Monday, I'll probably sell ABX, and wait to cover later.

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