Sunday, March 9, 2008

Sold AEM

I sold my AEM position on Thursday. I still expect AEM to fulfill the technical target established by the ascending triangle but I honestly believed (hoped) it would happen by now with the mania of gold hitting ~$1000. Anyways, I sold my shares to pay half of the property tax bill so in that sense, I'm happy.

Many of the gold / silver stocks look a bit 'tired' to me at this point in time so I'll be patiently waiting on the sidelines.

As for the market in general, the TSX looks like it's in a "sideways to slightly negative slope" market so the buy-and-hold mentality probably won't make you much money for the next few months. That being said, the active trader can make a killing in these volatile times if you stick to the right strategy.

Thursday's AEM Intraday Price Range: $70.90 - $73.85 (CDN).


White Eagle said...

Oops, I guess I was wrong. Well, at least I was kinda right for a few days after my trade but wasn't brave enough to re-enter at a lower price. Oh well, you lose some, you win some. Plus, you can never lose taking a profit... but that extra cash sure would have come in handy!

White Eagle said...

The last few days of the week were really volatile for AEM.

Price History for Symbol: AEM-T

Date Close High Low
Mar 20 69.08 69.99 65.60
Mar 19 69.75 72.40 68.60
Mar 18 73.50 79.72 73.05
Mar 17 79.31 82.80 78.50
Mar 14 79.00 79.60 76.54
Mar 13 76.53 76.85 73.39
Mar 12 72.71 72.91 71.14
Mar 11 72.31 72.31 69.96
Mar 10 69.90 72.06 69.75
Mar 07 71.95 74.19 71.28
Mar 06 73.60 73.85 70.90