Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who started this subject	11/21/2003 12:23:28 PM
From: energyplay	Read Replies (2) of 74559

Wrong-Way Barrick Gold Should Cue Shorts By James J. Cramer 11/21/2003 11:14 AM EST URL: thestreet.com Gold BEARISH Larry Kudlow thinks gold should be shorted. *A recent decision by Barrick Gold shows he's right. Short gold! My partner on my television show, Larry Kudlow, thinks that gold, the metal, has run too far, too fast, and should be shorted. I just got a piece of evidence that says he is right: Barrick Gold (ABX:NYSE) , which hedged gold throughout the dramatic run to $400, has just stopped hedging, according to an interview at a Euromoney-World Gold Council conference. You couldn't have been more wrong with that ABX the whole way up. Does it stand to reason that now that the company at last no longer is hedging out the upside, that the upside must be through? I have made a living betting against people and companies that are always wrong. Barrick Gold is always wrong. Short gold.

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