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Thursday, August 16, 2007

Sold Agnico-Eagle

Agnico-Eagle Mines (AEMLW) has been a member of the TradeRadar model portfolio since the middle of June. Just a few days ago we were up 48%. The last few days have seen the stock plunge. With this market looking so grim, I decided to preserve capital and take what profits could be had. I sold during yesterday's 10% slide at $22.52 and was happy to get that price as AEMLW closed at $19.99.

Frankly, I didn't even wait for a strong TradeRadar SELL signal. A weak one had been flashed a week ago and that, combined with the slide of the last two days, was enough for me. We ended up with a 27% gain and I'm not complaining.

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