ABX Barrick Gold (37.09)

9066Someone in the chat room mentioned that Jim Cramer — a power-drunk maniac who can move a thousand bozos with just a few words — has put a hex on Barrick. He evidently thinks the stock is going to fall 20%, but I say: Jim, get a grip! As far as I can surmise, Barrick is about to rally by 24%, to a Hidden Pivot target at 45.97. Odds of the stock collapsing after having created the beautiful impulse leg shown in the accompanying chart are slim to none. Incidentally, I have been thinking about adding a “Cramer’s Korner” at Rick’s Picks. We would take his specific recommendations and re-calibrate or reverse them to do something he only very rarely does — i.e., make money with them.