Rare Earth miner Avalon Ventures (AVL) hits trailing stop at 50% gains
Today's Financial News - Posted August 7, 2008
Our rare metals miner Avalon Ventures (AVL:TSE) triggers our trailing stop.
by J. Christoph Amberger
Baltimore — (TFN): Our Indium speculation Avalon Ventures (TSE:AVL) had overed between 65-70% gains over our initial recommendation from March 27. (See “Indium IPO: Buy or pass on this rare-metal IPO?”)
Last time we updated you on this stock, we wrote:
“At this point, we’d just like to shore up our current gains by establishing a stop loss somewhere in the area of C$1.73, which in the case of a steep drop in the share price would get us out with 50% gains intact.”
Today’s decline triggered that trailing stop. We’re booking 50% gains on this play in less than five months and will exercise caution returning to the rare earth and commodity super-cycles stocks until we confirm current trends.
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