Goldcorp (GG) Forming a nice, little reversal pattern at the end of a long, regression-channeled decline from near 48 to just below 32. That leaves GG in need of nearly a 50% rally just to return to the high from September. That is certainly volatile. Mining companies are the vanguard of risky, volatile equities because of their many inherent risks: operational risk, commodity risk, liquidity risk, investor risk, etc. Let's look for a close above the green-shaded zone for an entry IF it has rising volume. That is for the 2nd half of the position. The first half of the position can be entered here with a tight stop under $32. Upside target initially $36. Upside $2.73, Downside $1.37. Ratio: Nearly 2:1 excluding commissions. The upside on the 2nd entry is $38 initially with the same $32 stop. Tim 1:56PM EST Tuesday, March 12, 2013
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Barker
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I'm thinking about taking a position in GG this week for a longer term hold. Feeling like we have a good bottom here but will have one more push lower.