ABX update

Then (July 26 2012) and now;

ABX jul 26 s 2012abx aug 21 2012

Whether or not the count was correct remains to be seen, certainly some parts of it were. Less than a month ago we actually recommended this stock as a buy, despite our longer term misgivings about both this particular company and gold in general in a deflationary environment. At the time the stock was roughly $32 (the low $31.18). The expectation $42. Right now it is at $37. Continue to look for higher levels but remember (see previous blogs) that a reading above $42 is stretching it a bit. We would sell at about $40, or a 25% gain in, probable, a little over a month.