Taking a nice run up today after diving after I bought in yesterday!
Taking a nice run up today after diving after I bought in yesterday!
This is a classic trading stock right now.
Buy at 45 and hold until it hits 55. Then sell it as soon as it shows weakness.
It is a better play as a trade then Barrick is as a hold.
Precious metal mining stocks are not buy and holds.
One of my positions seems to be peaking right now, I think I might sell it tomorrow and pick up some goldcorp!
The 1 year chart looks amazing right now, EVERY time it has hit the $45 range it shoots back up within a few months to the $48-$55 range. Every time.
If it's not up too much tomorrow I'll hop on for probably 75 shares.
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This is exactly why I bought some at low 45's...Originally Posted by cannadian
One of my positions seems to be peaking right now, I think I might sell it tomorrow and pick up some goldcorp!
The 1 year chart looks amazing right now, EVERY time it has hit the $45 range it shoots back up within a few months to the $48-$55 range. Every time.
If it's not up too much tomorrow I'll hop on for probably 75 shares.
I ended up picking some up around 45.50 yesterday.This is exactly why I bought some at low 45's...
I'm expecting a general market correction soon though so I put in a stop at 43.43 to protect me in case G doesn't respond well to the markets falling..
Hopefully it can hold off the correction and march back to 55
http://ratracefreedom.net/
Follow my investing journey out of the rat race!
Anyone looking to average down their prices or pick some up?
Under $45 again.
cannadian, I don't know if it would be wise to set a limit at $43.43. That's probably where you will find a lot of support if it makes it there. Bad place to sell, IMO.
Actually good call, there seems to be lots of support around $43.50, I'm new to trading so I figured 10 cents lower would be a decent place, but after thinking about it some more I'll lower it a little to avoid selling early.
I'll put the stop at $43 instead - my downside is now ~$250 with upside of $500-$800.
Here's a crappy chart I drew showing the channel oscillation as I see it
http://ratracefreedom.net/?p=437#more-437
Rumours have been flying pretty recently that China and India are going to start buying Iranian oil in gold now to circumvent the US sanctions. That + possible monetary easing out of China could help pop gold prices/Goldcorp.
http://ratracefreedom.net/
Follow my investing journey out of the rat race!
I'm not sure I would set a stop loss there at all, though.
I would either make a tighter stop loss (ie, closer to your original buy price) or not include a stop at all.
I almost never use stop losses. The fact is that if the stock price reaches $43, it is probably more attractive, and thus more likely to increase than at say, $44.50.
If you were to have placed your stop at $44.50, this would minimize your risk even further, but it allows for less volatility. It depends on how you feel about it. See, I wouldn't use a stop loss because I don't see Goldcorp going below $42. And if I don't see Goldcorp going below $42, I wouldn't place a stop loss at $43, I would want to buy more at $43.
It's all up to you, But I think $2 of downside is a big range for a stop loss on this stock. Essentially, you could be throwing a couple hundred away, right? Nobody wants that. There is nothing wrong with the company. It is not all that speculative, so there is not much to worry about in terms of downside risk. A lot of the downside has already come, if you ask me.
Not sure what you're trying to say, zylon. Maybe I missed the point, but what does this have to do with Goldcorp, per se?
Goldcorp does not follow the price of gold at all times.
If you don't get it ... you don't get it.
Never mind ... post deleted.
Well, that's informative.
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