Trade of the Day: Goldcorp Inc. (USA) (NYSE:GG)

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Gold is starting to look much better now, and the metals in general are starting to show some positive signs. Steel, for example, was hit hard for a long time because of China, but the tape is now showing these metals perking up.

The weakening of the U.S. dollar over the last few weeks is helping these matters, and I think it could move even lower. There are just too many people who think the dollar is going to rise and, once you get a situation where one side of the trade gets too crowded, as it is now, it’s best to take the other side of that bet.

The way that I’m recommending you do so today is with a bullish position on gold:

Buy to open the Goldcorp Inc. (USA) (NYSE:GG) Apr 15 Calls (GG170421C00015000) at $1.05 or lower.

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Article printed from InvestorPlace Media, https://investorplace.com/2017/01/trade-day-goldcorp-inc-usa-nyse-gg-2/.

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