Friday, January 2, 2009

Are Gold Stocks the Best Shorts?


According to Carter Worth on Fast Money's 12/29 show, the gold stocks are set up to test a huge long term declining trend line. After a 100% gain off the bottom, gold stocks such as Goldcorp (GG) are set up for pretty entriguing shorts. During this time gold is only up 25%.
This report by Carter intriqued me because alot of infrastructure/commodity stocks are up way too much on back of the 'expected' Obama plan. These seem as good shorts as any. Today's decline in the face of a 3%+ market rally adds to the appeal. Any breakout above $33 for GG should be covered.




1 comment:

Stonefoxcapital said...

Nice short so far. GG dropped 6.4% with the market today.