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TECHNICAL ANALYSIS | July 6, 2016
Anticipating Macro Events
As part of its 13F filings the quarter ending 3/31/2016, Barrick Gold Corp. (ABX) announced that Soros Fund Management LLC had built up a new and substantial position of some 19,419,309 shares in its company. With the results of the UK referendum currently roiling world markets, this move by the billionaire investor seems almost as stunning as his trade in 1992 in which it was claimed he made a billion dollars by "breaking" the Bank of England. On Friday, June 24, 2016, while the S&P 500 was down 75.91, or 3.59%, ABX was up 1.12, or 5.79%.
by Stella Osoba, CMT
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