Having taken tea with the 200dma AEM has bounced and moved up to close today just above the 50dma. The RSI is sitting at 60.75 and is heading north along with the MACD. We now need gold prices, currently standing at $1373.00/oz, to push on and break through $1400.00/oz.
The index of un-hedged gold producers, the HUI, is currently standing at 540, up 9.85 today. Although this is good progress we are still looking in anticipation for the HUI to get its skates on and blast through the 600 level and show us all that they mean business. Still some progress is better than no progress so we will continue to look for bargains in this sector and take it from there.
Agnico-Eagle is a long established Canadian gold producer with operations located in Canada, Finland and Mexico and exploration and development activities in Canada, Finland, Mexico and the United States. Agnico-Eagle's LaRonde mine is Canada's largest operating gold mine in terms of reserves. The Company has full exposure to higher gold prices consistent with its policy of no forward gold sales. It has declared a cash dividend for 29 consecutive years.
Agnico-Eagle Mines Limited trades on the NYSE under the ticker symbol of AEM and on the Toronto Stock Exchange under the symbol of AEM.TO.
Agnico-Eagle has a market capitalization of $12.67 billion, a 52 week trading range of $54.07 - $88.20, a rather high P/E ratio of 42.45 on volume of 2-3 million shares traded per day and closed yesterday at $75.53.
In today's trading session we closed another trade so we now have 64 winners out of 66 options trades, or a 96.96% success rate If you have any questions regarding these trades please address them through their site where they will be handled quickly and I hope efficiently.
The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.
So, the question is: Are you going to make the decision to join us today, before we decide to cap membership.
Stay on your toes and have a good one.
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