Friday, November 5, 2010

IAG - on sale

IAMGold just reported record production and earnings, but the stock sold off.  Why?  They reduced guidance at their mine in Burkina Faso due to a mechanical shutdown for three weeks.  I own IAG and see this as a sale to buy more shares for the future.

Look at the below chart, I see $24-25 in a measured move in its future.  Two choices for me, buy again above today's high, and/or wait for a swing low to form at a lower price.  I'll probably opt for the latter.


  1. Bob, I started my first tranche of DNN at 2.4 this morning and already also added a bit to my IAG when I saw the slam-down this morning.

  2. Kathleen, IAG's problem is shortlived.