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Sold Golcorp (GG:NYSE, G:TSE) - PL $ +1,554.02 (3%)

Today I sold my 3 positions on Goldcorp for an average of 3% in 3 days. The reason I sold this stock is because it’s been downgraded by “some” analyst. I usually don’t listen to this guys but just want to avoid the situation. I still want to be on Gold and transferred the funds to a position on Barrick Gold (ABX:NYSE, ABX:TSE).

Here’s the summary of my positions on Goldcorp:

=>ENTRY:2007/12/07-Long G.TO at 33.5, stop@31.5, risk/unit $2.02 (2.7%)
=>EXIT :2007/12/07- at 34.43, Net PL $ 910.00 (2.7%) 3 days

=>ENTRY:2007/12/07-Long G.TO at 33.34, stop@31.5, risk/unit $1.92 (3.1%)
=>EXIT :2007/12/07- 700 at 34.44, Net PL $ 750.00 (3.2%) 3 days

=>ENTRY:2007/12/10-Long G.TO at 34.7166, stop@31.5, risk/unit $3.22 (-0.8%)
=>EXIT :2007/12/10- at 34.43, Net PL $ -105.98 (-1.0%) 0 days

Total PL $ 1.554.02 (~ 3%), 3 days.

My original entry was here.

Using the funds from this sale, I opened a new position on Barrick Gold:

Bought ABX.TO @ $41.15, stop loss @ $ 40, risk per unit $1.22(3.0%)