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Agnico Eagle Mines Limited Message Board

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  • edfiggy edfiggy Aug 25, 2010 11:45 AM Flag

    Why is AEM down 2%? Downgrade? Rest of sector is up.

    I closed my position at a tiney profit and move the money to GDX. I do not understand the action on AEM. I am bullish gold, GDX will spread my risk better. Obviously not as much upside either but today's action is just too weird for me to keep as an investment. best of luck guys

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    • If you embrace the volatility you can make good money on this stock selling covered calls when it's in 60s, buying calls when it's in the 50s, and selling cash covered puts when it's in the 60s too (also a great way to pick up shares at a discount to today's price). The reason I keep my positions are because - with the 3 to 5 percent moves that occassionally happen, the stock and all the options around it are a great trading platform. Of course if you want an investment to just hold for the long term this can be disconcerting, but if you have the time to manage you positions this is a fantastic security. And it'll work out in the long term too as this is the single best business I know of. An even better trading vehicle (my other fav) is AGQ which generally experiences even greater price changes on the day.

 
AEM
29.56+0.53(+1.83%)1:42 PMEDT

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