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« Gold: Labour Day and Rising! | Main | New Zealanders moving into Gold »
Thursday
Sep132007

Agnico-Eagle Mines Limited: Take some money off the table.

Agnico logo 13sep07

Agnico-Eagle Mines Limited is a class act as we have said many times before. However we are here to make money and not to fall in love so today we have sold 50% of our holdings in this stock for $48.78.

Taking a quick look at the chart we can see that the stock price is running out of steam after a steep rise. The technical indicators are in the sell zone. Gold is at $707.70 and just may take a breather at this point.

Agnico Eagle Chart 13sep07

Agnico-Eagle Mines Limited remains one of our favourites and our intention is to buy back into this Canadian gold stock at a later date. Not much later as this is a short-term trade with the intention being to increase our share of Agnico-Eagle Mines Limited in this investment account.

If you wish to hold that’s fine too, but as always expect some volatility going forward.

We will post again as soon as the re-entry point presents itself.

Whenever we buy stocks or sell stocks we post an article immediately so you know which stocks we are trading instantly. The free newsletter goes out everyday that we post an article but if that isn’t fast enough for you then do drop in from time to time as we are entering a rather interesting period for those investing in stocks. Buying stocks and trading stocks in the short-term can be both fun and profitable but do not take your eye off the main event, which is to be invested in this bull market.

Read as much as you can and keep one eye on gold options, gold futures, silver futures, stock market reports, online stock market reports, current events, world affairs, etc.

Please feel free to comment on this or any other trade we make whether you agree with us or not your opinion is valued by our ever growing readership and of course the team here.

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