Pan America Silver Corp. (PAA.TO) is making another run to test the short term high. Seeing that the volume is relatively higher on this test of \$24.80 resistance (Figure 1) and that I have lowered my mental stop to \$24.30, I have ditched this short position at a small loss at 10 am today. I am mostly in cash again. I still have a small bullish position in Kinross Gold. I'll just be letting it run its course. I have no idea which way the market is going at this 1080 junction on the S&P. There are some important supports just below. I will keep my hands off until the market decides which way it will go.
[caption id="" align="aligncenter" width="570" caption="Pan America Silver Corp. (PAA.TO)"][/caption]
Loss is (\$2.27 - \$2.25) * 3 * 100 = \$6 + \$25.90 commission = \$31.90 = 0.3%