by Sam Collins 06/30/08
Yamana Gold Inc. (AUY) -- This mining operation engages in the acquisition, financing, exploration, development and operation of precious-metal mining properties in Brazil, Argentina, Honduras and Nicaragua. It has been in a bull market for more than three years, rising from under $2 a share to above $19.
We've followed AUY from time to time with several successful trades and now, with volume up and a solid break above the conjunction of the three major moving averages, it is possible that AUY could head to new high ground.
But if you decide to go with this volatile gold stock, limit your risk with a stop-loss order and settle for a quick 10% to 15% trade, unless you plan to hold it long term.
Get Sam Collins' Daily Trader's Alert e-mailed straight to your inbox each morning before the opening bell absolutely FREE!
In addition to getting instant access to his Trade of the Day, you'll also receive, in the same e-mail, his Daily Market Outlook so you can start your day off right by positioning yourself for profits!
Click here today to sign up today for Sam's FREE Daily Trader's Alert!
Sam Collins can be reached directly at samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.
Looking at Dow Theory can reveal what's going on beyond our usual internal indicators, sentiment numbers, etc.
CHK's recent new low does not alter its outlook; use it to buy shares at a discount.
The time-tested Moving Average Convergence/Divergence generated bearish indicators for the DJI, the SPX and the NYA.
Profitable solar energy stocks have often gone unnoticed and then exploded. ESLR could follow suit.
Rumblings of an LEH takeover are sending waves through the market, though fewer traders are around to notice.
