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Ride or Slide: Seabridge Gold
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Friday, 01 February 2008
By Charles Delvalle
Last Wednesday, I asked readers to let me know if they should let a stock ride or slide.  Well, I got a lot of e-mails.  So before I go on, let me lay out some ground rules.
Only send one stock at a time.  One person actually sent me a list of 40 stocks.  I obviously can’t cover that many.  Heck, looking into just one stock can take HOURS!

I won’t be able to cover every stock I get.  So what I’ll do is cover stocks that a few people are interested in.

With that said, the most popular stock this week was Seabridge Gold (SA).  And with good reason. This stock has dropped from 40 down to 25 in just a few months.

There are a couple of things I like and dislike about this company.

First, I don’t like the fact that SA hasn’t hit new highs alongside the price of gold.  Usually, a company the size of SA should be more linked to the price of gold.  Second, I think in the short term, SA had some technical damage done.  It broke under its 200-day moving average and it’s overbought.  This means it might go down in the next week or two.

But not all is bad.  I do like SA’s long-term outlook.  They’ve been on a solid uptrend for years, they own the second-largest undeveloped gold project, they don’t mine, they could easily be a takeover target, and they are linked to one of the biggest bull markets we will ever see.

If you’re not scared by short-term fluctuations, then do yourself a favor and let Seabridge Gold ride.

Charles

P.S. Want to see me cover a stock?  Send an e-mail to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
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