Golden Minerals Company is a mining company. The Company owns the Velardena and Chicago precious metals mining properties and associated oxide and sulfide processing plants (the Velardena Properties) in the State of Durango, Mexico, the El Quevar advanced exploration property in the province of Salta, Argentina, and a diversified portfolio of precious metals and other mineral exploration properties located primarily in Mexico. Its two segments include its Velardena Properties in Mexico and non-revenue producing activities, including exploration, construction and general and administrative activities. It focuses on evaluating and searching for mining opportunities in North America (including Mexico) with high precious metal grades with near term prospects of mining, and particularly properties within haulage distances of its Velardena Properties, which may include the Santa Maria Mine, the Santa Rosa vein or the Rodeo property.
Quite a nice little ascending triangle forming with the 200MA pulling up the bottom as well. Just broke through 50MA as well, so could be a decent chance to try and make a quick gain. I made a REAL small gamble entry at $0.68 a few days ago.
It didn't manage to breakout of the ascending triangle from above (which I reposted below). Unfortunately it did not hit my target of $0.87, so I did not sell and I was too busy to watch it during the day yesterday to sell manually, so I missed my chance for now. As long as it holds the support line and the moving averages, I'll stick around. Can The Uptrend Continue for Golden Minerals (AUMN)? Source: http://finance.yahoo.com/news/uptrend-continue-golden-minerals-aumn-070507932.html
Returned back to the ascending triangle after the breakout a few days ago. Hopefully it can force another breakout so I can find my exit.
Up with gold today, but off the highs of the day by a couple cents. Will meet lots of resistance at the MA's that are just ahead. Still holding my small gamble position that I foolishly didn't sell a week after I bought for 22%.
Well, I wasn't watching close enough RIGHT at open and missed the large gap up, but I did manage to close my position at $0.7163 for a 5.9% profit. I called the breakout of the ascending triangle perfectly, but I got greedy back in early December just a few days after opening the position. Should have taken profits back then. Nonetheless, still a profitable trade so it's hard to complain.
