Blog > Gold and Resources > Coeur d’Alene Mines Corporation (CDE) is up over 40%
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Coeur d’Alene Mines Corporation (CDE) is up over 40%

Today's Financial News - Posted September 10, 2009

big-1.chartWith silver prices soaring, our favorite silver miner Coeur d’Alene Mines Corporation (NYSE:CDE) is inching toward our first profit target. Time to lock in gains!

by J. Christoph Amberger

Baltimore, MD — TFN: On May 27, 2009, I recommended to members of TFN’s Hot Stock Confidential:

“Buy Coeur d’Alene Mines Corporation (NYSE:CDE) at current levels under $14.50, with a six-month target of 50% and the potential of doubling your money at or above $28.00 by summer 2010.”

We recorded our entry price at $13.96… and promptly saw it go down to $10.45. Today, the stock is trading at $20.30. Plus…

We’re close to our initial 50% gain target, with 2 more months to go. And of course, given that Washington seems hell-bent to wreck the dollar, I’m sticking to the possibility of a cool double by next summer. (Those of you who joined us in June and followed our advice in the weekly updates may actually already have a near-double on your hands.)

Now, I don’t know about you. But after a rollercoaster ride, I like to hold on to something firm. Having watched the stock decline before… and knowing that market volatility will not change in the near future… I’d like to see a minimum payback of 40% for the pain.

Which is why I recommed we establish a 40% stop loss at $19.55 for CDE.


Next Article: TFN eNews 09/10/09: Who says there’s no money to be made on stocks?

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Posted by J. Christoph Amberger · Filed Under Gold and Resources 

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