AEM, Agnico Eagle.

Earlier this year (in April) we warned that Agnico had probable completed a nice B-wave and would go down big time and certainly to the level of the triangle in the middle of that B-wave. Here is un update;

AEM jul 2011

The stock dropped today, supposedly on increased costs resulting in less than expected earnings. We are now in that range of the triangle. We may get a pause but this should continue down to less than $30, see also previous blogs.