Bought 200 K.TO @ $15.94

Update Aug 13: I got stopped out at \$15.80 for small loss. Precious metals and the miners are holding well in today's 30 point drop in S&P (WSJ article). In particular, gold just made a higher low (Figure 1) and AUD/USD is holding 0.8900 somewhat. As such, I've lowered my mental stop on the PAA.TO short to \$24.30, a mere few cents above. Secondly, I am taking a long position in the Kinross Gold Corp. (K.TO).

[caption id="" align="aligncenter" width="570" caption="Gold"][][][/caption]

As evident in Figure 2, Kinross has been taking a beating the past year. However, it is trading on a long term Fibonacci support level around \$15.80. Thus, I am buying here with a small position while Kinross is making higher lows intraday and on the daily (so far).

I have set a mental stop at \$15.60 and a hard stop at \$15.50.

Risk is (\$15.94-\$15.50) * 200 = \$88 + \$9.90 commission = \$97.9 = 1% of account.

[caption id="" align="aligncenter" width="570" caption="Kinross Gold Corp. (K.TO) weekly chart"][]1[/caption] [caption id="" align="aligncenter" width="570" caption="Kinross Gold Corp. (K.TO) daily chart"][]2[/caption]