Goldcorp Inc. - GG - close: 42.28 change: +1.45 stop: 37.75

Why We Like It:
The U.S. dollar is falling to new relative lows and that's boosting gold futures. As a matter of fact gold is in the process of breaking out past key resistance near $1,000 an ounce. If gold can clear the early 2008 highs it would have a lot of room to run and pull the gold miners along with it. GG is a Canadian gold company who's stock has broken out above resistance near $40.00. The recent bounce looks like a new bullish entry point. I'm suggesting long positions now with a stop loss at $37.75. More conservative traders may want to use a stop closer to $39 instead. The P&F chart is bullish with a $54 target. Our first target is $47.00. Our second target is $49.85.

Annotated chart:

Entry on September 15 at $42.28 
Change since picked:     + 0.00   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       8.1 million 
Listed on September 15, 2009