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Agnico Eagle Mines Limited Message Board

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  • juanruiz1330 juanruiz1330 Nov 13, 2010 1:45 PM Flag

    Why was AEM down and EGO strong and up today?

    AEM down 1.97% EGO down 1.57%. Not that big a difference.

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    • that down 1.57% for EGO was after hours on miniscule volume. It closed up for the day during regular session and was strong all day.

      • 1 Reply to stacy_k_071278
      • EGO up the last 2 days really. Since I saw your post I got curious too. I do know the last time China raised their interest rate, gold had a correction as did the miners. Check your chart for Oct 15th. China's thinking of raising again. I raise maybe a more important question. Who was buying EGO the last 2 days? You may not understand this but I would like to attempt to explain. Buyers we all assume are buyers and sellers we all assume are sellers. It's just not that cut and dry. The market is actually democratic in nature and with time, the majority does rule. Like with congress, when one party reaches across the aisle and agreement is struck, a majority can be set in motion. Safe to say 100% on both sides of the aisle would be pretty near impossible. The buyers and sellers are similar to dems and rep. The buyers have true buyers but they also have bearish buyers that would just as soon sell their gramma at the local antique auction for cash. I know it sounds funny but I have seen it in action in the charts. Sellers have true sellers but they also have bullish sellers that will negotiate with the buyer party. Hope you can get your head around that. For EGO, the buyers are having a trouble putting risk on the table here. It has been the sellers that moved this stock over the 50d ma recently. Under the 50d again the buyers are still reluctant. Of course gold just turned south, so in turn the miners are doing the same. Thanks China... I saw this same thing with AAPL just after it hit into the low 270 range for an all time high. They pulled back and wouldn't break back through 255-260. The sellers wanted to but the buyer didn't. The stock pulled back to around 234 and with time and agreement with the buyers the stock plowed thru to 319 at the most recent top. I chart and I chart anything that moves. Sometimes when I see these pie-in-the-sky targets for stocks, I have to ask,"really". If I chart it and I see those target intentions, I can then say it's there. It has stated it's intention and is therefore possible. Bet you didn't expect all this. Neither did I! Spontanious I suppose.

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