Yamana Gold Inc (AUY)

[SeriousStockStoke]

Yamana & The Overall Market


Sorry I didn't get back to you sooner Marllene. I'm not a regular on this site. As far as AUY, I think Yamana will hold up fairly well despite the overall market downtrend. As of this morning Gold is up again putting in a new high. I think it wants to go to $1000 and maybe even a little higher before consolidating a bit, however I don't expect a major pullback until late Springtime. Until this mess in the credit markets is over and until the U.S. Dollar finds support again, I remain long AUY.

If you're looking to add more, I think Friday would've been a good time, but you never know. AUY might be pressured again today by the overall market. I think the risk/reward for Yamana at this point is down $1 and up $4 which isn't too shabby. Watch the Earnings on the 25th though.

Best of Luck