ABX update

Then, April 26th , and now charts;

abx apr 26 2013abx may 8 2013

Try to envision the two charts flowing into each other. On the Tuesday of the 24th of April the stock actually traded with a $17 handle, close enough to our year plus ago target to buy. What is not (yet) clear is if this was actually THE low. If not we should expect an a-b- rebound as shown in the two above charts. Today’s high at $22.55 is just touching on the gap that was formed on the way down. If you are nervous take the $3 profit. If not , just wait and see if the low was indeed the real one. After all it is hard to imagine a set of circumstances where so much bad news hits a stock in such a short time. Also they did issue debt going out some 30 years at reasonable yields of 5% or so which were well received.