Monday, September 22, 2008

Agnico-Eagle Mines' Double Bottom?

I'm a few days late to the party on this one but Agnico-Eagle Mines (AEM-T) has formed a really nice double bottom formation that I hope I can still take advantage of.

I should point out that I was deeply debating today if I should invest in the HBP Gold Bull+ ETF or shares in a gold miner. I'm not thrilled about my entry price in this stock today but we'll see if the pattern fulfills itself over time.

Agnico-Eagle Mines (AEM-T):
Open $65.00
High $69.58
Low $65.00
Close $68.32 (+$3.32, +5.11%)

Kitco New York Spot Price for Gold:
Low $874.50
High $909.90
Close $898.30 (+$26.50, +3.04%)

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