Its Not Too Late To Benefit From The Gold Rush With Yamana Gold (AUY)

Posted: Wednesday, November 18, 2009 12:18 PM EDT

Yamana Gold (NYSE: AUY) hit a new 52-Week high of $13.49 so far today. Currently the stock is up $0.30 (2.28%) to $13.48 on 10,964,655 shares traded. Today's high is up $9.99 from a 52-Week Low of $3.49. Yamana Gold stock has been showing support around $12.58 and resistance in the $13.48 range. The stock rose to a new 52 week high earlier in the session, moving higher in reaction to rising gold prices. Gold prices are up $8.20 an ounce so far today. If you are looking for a hedged play on AUY the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 11 range. [ABR-Seven Summits Strategic Investments NewsBite]

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