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AEM Is An Avoid On Both Sides Of The Trade Here

April 22, 2008 10:19 PM

As our readers have known, I have been VERY skeptical of AEM and Cramers raging bull on this stock, and have said short it, at least once, and avoid it a number of times. Was a little suprised it didnt have any strength today with the dollar hitting new lows. Probably because the stock is grossly over valued by any and all measures.

 With that said, it is likely to attempt a reversal soon, unless the dollar spikes lower and makes a complete reversal. AEM needs a reversal here, or i am VERY skeptical of any and all moves higher. It may try and reverse near $64 range…maybe. i don’t really have a strong feel for the stock here as the move up off the recent low was not supported, IMO. I just not have a firm number to be long or short from here….other than the all time high, which was an obvious short.

Written by Tom@StockBlade.com · Filed Under AEM 

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