Last Sunday, January 24th I recommended $ABX. It opened last Monday at $8.74 and is now at $10.01. It is higher by $1.27 or 11.21%. We locked in 50% of the position at $9.72 and will lock in the rest here. Anytime we make such “fast money” it makes sense to take some of the profits.
Gold looks a little toppy to me right here and with the awful PMI numbers we could see it pull back. Also, at 1:00 p.m. Federal Reserve Chairman Stanley Fischer will be jaw boning rates and that could hurt gold stocks.
Expect to see a new recommendation out this week as we have lots of ideas but want to see how the week plays out given the abundance of news.If you enjoy the content at iBankCoin, please follow us on Twitter