Inline with comments in this morning’s note, we believe Gold is approaching a pivot point where traders are now ‘too long’ the precious metal. We are also concerned about Copper in the short term. Combining these (short term) views, we are selling into the prevailing strength in EVN. We’ll revisit the sector/stock at a later date, believing the sidelines are the best place to be for now.
MM are selling EVN in the Active Growth Portfolio, taking profit around $7.24
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