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Strategies & Market Trends : Waiting for the big Kahuna
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To: jef saunders who wrote (35303)12/15/1998 2:11:00 AM
From: Bull RidaH  Read Replies (2) of 94695
 
Jef,

I cashed out of GGO today because upside is limited from here. Placer Dome will not be the best performer in the upcoming bull run in the XAU, and at $29/share, it was close enough to the take out value (2.45 X 12.37 = $30.30). The merger won't close til the end of March, so there should remain a risk premium in the price of GGO that the merger won't go through.

But I'm sure people who hold the stock through the coming months will feel richly rewarded when the bull run begins. But before it begins, we could dip under 60 on the XAU. Whatever the case, I'll be heavily long the index, a major (NEM), and a junior (Still TBD...Any ideas?).

Regards,

David
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