We are going to sell 300 shares of our 800-share position in Wheaton River (WHT) here for an 18% gain. The company's solid earnings report last night has shares trading 5.4% higher today to $3.72 a share, and we want to take advantage of the market's reaction to scale out of this position.
We will sell our remaining Wheaton position closer to $4 a share. We believe gold still has more room to run and that Wheaton will benefit from higher gold prices, increased production thanks to Goldcorp's (GG) acquisition of the company, and fear that the current U.S. trade and budget deficit will lead to a weaker dollar.
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