I am looking for a bottom in Agnico, as well as many of the gold and silver miners. Low energy will help with production costs and any slowing of the world economy will give another reason to print money worldwide.
Control your risk. If a trade costs you more than a few percent on a small initial position, let it go. Trade the trend. Bottom picking is an exercise in catching the change in trend. It is an exercise in timing. In the case above, IF the price holds in this low range I will hold an initial 1/3 position. IF it breaks out above this range I will add another 1/3. And will consider more after a subsequent consolidation and a continuation higher. Then I will play it by ear. I think this stock has a good chance to make it to $15 in the next few weeks. How it gets there will determine my action from there.
control your risk,