Dear Member,
We sent an issue this morning that referenced the recent performance of Yamana Gold (AUY) stating :
Now, on to mining shares. I expected some softness in mining shares as we came into the August 6 cycle low that I forecast. And indeed, mining shares fell yesterday, a bit more sharply than I expected. As a result, you should have been stopped out of your shares in Yamana Gold (AUY) when it hit my protective sell stop at $9.07.
That stinks, but it was a very modest, tightly managed position and the loss only amounted to roughly $118, or about 9.6% based on a hypothetical trading account of $25,000.
The reference to the loss of 9.6% in AUY referred to the loss on the individual position, however when calculated based on the total equity of a hypothetical trading account of $25,000, the loss for the Yamana Gold (AUY) trades, calculates to 0.47%.
Best wishes,
Larry
