Goldcorp (GG) NewsBite - GG Falls on Lower Gold

Posted: Friday, October 30, 2009 1:28 PM EDT

Goldcorp (NYSE: GG) opened at $37.38. So far today, the stock has hit a low of $35.67 and a high of $37.44. GG is now trading at $35.67, down $2.00 (-5.31%). Over the last 52 weeks the stock has ranged from a low of $17.05 to a high of $43.41. GG shares are being pulled down today by declining gold futures. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for GG. If you are looking for a hedged play on GG the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]

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