Buy Alert: October 2, 2013

| October 2, 2013

Buy Alert:  October 2, 2013


Trade Details

Buy Barrick Gold (ABX) November $19 Calls for $1.10 or better



Gold has had a tough year.  The precious metal is down 23% so far in 2013.  Gold miners have been hit even harder, even the big guys.  In fact, ABX – one of the biggest North American gold miners – is down over 47% for the year.

However, I believe gold is due for a bounce.  There are too many geopolitical and economic issues looming for gold to disappear as a safe-haven investment.  As the price of gold drops, demand is sure to increase.

What’s more, ABX is at a perfect price level for a bounce.  It’s sitting right at the 50-day moving average, which has held as support since mid-August.  We’re going to buy November ABX calls in anticipation of a move towards the 200-day moving average.


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Category: OTW Buy Alerts