Bought 200 VEN.TO @ $9.74, Stop $8.90

Well I found a viable long term hold just as I declared that there's nothing good out there today. Yes, I eat my words often. So I took a long position in Ventana Gold Corp (VEN.TO). That cup-and-handle breakout from \$9.00 is just textbook (Fig. 1). I am indeed a bit late, but the trend is now upward. There is a big resistance at \$10. It is where the June epic decline started. From just above \$10 to \$6.5 between June and July. Now that VEN is back at this level again. I am betting that the positive momentum would carry it upward. My hard stop is \$8.90. My mental stop is \$9.50. As VEN seem to like to gap at \$9.50. From the look of it, \$9.50 level is more important than \$10. Since we're above it already, this gives me a bit more confidence in this trade. Another point to note is gold price. It is on a direct train to test, and possibly, break a new high record (Fig. 2). Risk is (\$9.74 - \$8.90) * 200 = \$168 + \$9.90 commission = \$177.90 = 1.85% of RRSP trading account. [caption id="" align="aligncenter" width="570" caption="Ventana Gold Corp. (VEN.TO)"][][][/caption]

[caption id="" align="aligncenter" width="570" caption="Gold"][]1[/caption]