Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Yamana Gold May Test Lows

|Includes:Yamana Gold Inc. (AUY)

Yamana Gold Inc. (NYSE:AUY) just released earnings and beat the estimates by one-cent.

Price action suggests that at least for now, the response is negative.

We are watching to see how Yamana handles price support in the area of 8.55 - 9.00 as there may be an opportunity to go long (for a medium to long-term trade) with a small amount of risk.

We consider Yamana a solid gold producer and one of the large miners that still has a measurable PE ratio.

(click to enlarge)AUY Daily chartClick to enlarge

Charts by StockCharts.com

Disclaimer:

This report is for discussion purposes and contains our opinions only. This posting is to publicly document our thinking and market analysis actions within the Three Ten Trading entity. The data was obtained from sources believed to be reliable. However, we make no guarantee as to the accuracy of that data.

Investing or trading in equities, futures or options may result in a significant loss of capital, total loss of capital or a loss greater than available capital.

We are not advocating any stock or in any way offering portfolio management advice or stock selection service.

Respectfully,

Paul Mosgovoy, President: Three Ten Trading, LLC

Thank you for reading.

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in AUY over the next 72 hours.

Stocks: AUY