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Goldcorp (G)

177K views 505 replies 79 participants last post by  Ag Driver 
#1 ·
Was surprised there was no previous thread.

I'm thinking about buying some G tomorrow (100 shares).

Thoughts?
 
#3 ·
Looks like the stock is at a relative minimum and will be back to around ~55 in the month. I don't know TA though, I'm just a maths/patterns guy looking at a chart haha.

But overall I'm pretty bullish on gold long-term so it should be a good bet, especially if you can hold onto it.

If Bernanke decides to print more money gold/silver will go through the roof imo.
 
#10 · (Edited)
I bought 50 at $45.29 in the morning, was going to buy another 50 when it went down below 44.70 (I pay only once fees if buy the same day), but got stuck in the meeting from 3 to 4:30 ....
so if it goes down more, will buy another 50
Last year I sold G at about 52.5 ...hope I'll reach this price until end of Q1...
Maybe I'm wrong, but I'm more optimistic on G than on for example ECA... and for dividends I bought EGL.UN with 10.5% yield
 
#16 ·
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.
 
#17 ·
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 :D
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.
 
#23 ·
cannadian, go check the "What are you buying" thread.

I made five profitable trades on Goldcorp today.

I understand what you are trying to say in regards to your downside risk versus your upside potential, but the problem is: That's a fact.

That fact isn't going to change. That's the way the stock moves/reacts. I just think by placing a stop loss at ~$43, you are shooting yourself in the foot. If you bought at $45, why wouldn't you buy at $43? If you're going to buy at $43, why would you stop loss $43?

If you were concerned about losing funds, you should have put a stop loss maybe $0.50 cents away from your original buy, not $2+.

What happens if Goldcorp dips to $42.85 and then shoots to $49? You will be pissed. :eek:

See the image below:

 
#25 ·
cannadian, go check the "What are you buying" thread.

I made five profitable trades on Goldcorp today.

I understand what you are trying to say in regards to your downside risk versus your upside potential, but the problem is: That's a fact.

That fact isn't going to change. That's the way the stock moves/reacts. I just think by placing a stop loss at ~$43, you are shooting yourself in the foot. If you bought at $45, why wouldn't you buy at $43? If you're going to buy at $43, why would you stop loss $43?

If you were concerned about losing funds, you should have put a stop loss maybe $0.50 cents away from your original buy, not $2+.

What happens if Goldcorp dips to $42.85 and then shoots to $49? You will be pissed. :eek:

See the image below:
If you had of just bought and held those 300 shares until today you could have sold for a $600 profit! Stock is headed up up up today.
 
#30 ·
Hi guys,

I'm pretty new around here but I liked the talk of goldcorp on Tuesday so I bought in at 44.80. Glad I did because yesterday was a nice surprise gain of me :)

Any estimates on a good exit point? I know lots of people have been saying 55, I wonder if we will get another dip before going that high.
 
#32 ·
I bought when it dipped to 45.

This is a trading stock to me. I like the idea of buying around 45 and then letting it run. You have to think about selling when it gets up around 55. This is still a growth story but also a high quality producer with low costs for production and with little political risk. The only thing I'd like is a higher yield.
 
#36 ·
Someone on another board mentioned a low risk way to play Goldcorp for rapid and leveraged gains when it gets close to $45 where there is very strong technical support. The idea is that the volatility of the stock has created large options contracts. So you sell puts at $45 and then sell when the stock bounces back up for a quick high leverage gain. You have to do this in a non-registered account, though.

If it does get put to you you'll get Goldcorp for around $42 which isn't the end of the world as it'll probably bounce back up in time.
 
#37 ·
Goldcorp up 2.59% as I post this...Increased the dividend 32% too :)



Fourth Quarter 2011 Highlights

Revenues increased to $1.5 billion, on gold sales of 685,000 ounces.
Record operating cash flows before working capital changes totaled $831 million or $1.03 per share.
Adjusted net earnings totaled $531 million, or $0.66 per share.
Total cash costs were $261 per ounce on a by-product basis. Co-product cash costs1 totaled $529 per ounce.
Dividends paid amounted to $91 million. Dividend increased 32% to $0.54 per share.
Certificate of Authorization was issued for the Éléonore project in Quebec allowing full construction to commence immediately.
Received approval of amended Environmental Impact Assessment at the Cerro ***** project in Argentina.
Entered into a $2 billion senior revolving credit facility, replacing the existing $1.5 billion facility.
 
#46 ·
I got an idea on seeking alpha for use of leverage with Goldcorp trading options on the US exchange.

As it dropped close to 45 I bought some 7 April puts with strike 45. I only had to put up a tiny amount of equity to do so but I'm also potentially on the hook for 700 GG shares in April if the stock price drops below 45 but that wouldn't be such a bad outcome as I would then be buying at 42.80 once the 2.20 payment for the put is accounted for.

Now I'm looking to trade out once it hits around 48 or 49 when I should be able to buy out my options for under 1.00 or I may just let the put expire if it doesn't accelerate way out there at which point I'd be kicking myself for not going long.

This is basically a leveraged play on a stock I like with little risk of assignment due to the high resistance it meets around 43-45. It doesn't stay down in the doldrums for long before someone bids it up.

My favourite long gold play right now is AUQ but I've been waiting for it to break out of its downdrift pattern for awhile and have no position in it at the moment.

I do think it points out what I've always believed - precious metal stocks are mostly trading stocks.
 
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