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Gold/Mining/Energy : Barrick Gold (ABX) -- Ignore unavailable to you. Want to Upgrade?

To: nickel61 who wrote (1602)	12/18/1999 11:15:00 AM
From: Cascade Berry	Read Replies (1) \| Respond to of 3558

You are right, it does have a large weighting...however, the XAU and the TSEG gold index have an autocorrelation of over .9 over the last five years and both are highly positively correlated with gold prices. Why does Barrick always rise when gold prices rise? Trying to trade it by your theory is a recipe for carnage - whether or not your theory is true - maybe it will be at 600 U.S. POG - I don't think we will get there for the next 20 years. Your argument that Barrick hasn't done well on the charts is also suspect - it has outperformed most other gold stocks in this gold bear.