Sell Barrick Gold (GOLD)
I’m recommending that we sell our position in Barrick Gold (GOLD).
The stock has violated our money management discipline by failing to follow through with last month’s show of strength within four weeks and has now violated the widely watched 200-day trend line as of Monday.
Post-election selling in gold mining shares is the main culprit, despite the Fed’s latest rate cut, as a “risk-on” investing approach has been embraced on Wall Street for now. Accordingly, I move that we further reduce our precious metal holdings and will be making further portfolio evaluations in the coming days. SELL
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