Sold 400 VEN.TO @ 10.70, Breakeven

I'm out all my Ventana Gold (VEN.TO) position. This thing is losing steam despite gold prices hitting record high seemingly on a daily basis. VEN.TO made another attempt to break \$11.00 resistance level at the open but it quickly reversed (Figure 1). I upped my stop order at the open on this third attempt because I don't want to be holding it if it fails for the third time. I'll just sit and wait for a while to see how this one goes. Recent low at \$10.40 is the support to watch. Coincidentally, the 50 daily MA just crossed over the 200 MA today for a classic bullish signal (Fig. 2). A contrarian correction (downward) to bleed off overbought condition is in play, perhaps?

[caption id="" align="aligncenter" width="570" caption="Ventana Gold (VEN.TO) intraday"][][][/caption] [caption id="" align="aligncenter" width="570" caption="Ventana Gold (VEN.TO) daily"][]1[/caption] Loss is (\$10.70 - \$10.70) * 400 = \$0 - \$14.85 commission = -\$14.85 = 0.15% of account. I am just handing money over to my discount broker Questrade these days.