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NEM: Talk me out of buying some here


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#1 senorBS

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Posted 26 April 2019 - 02:01 PM

IMO they stole GG, JV with ABX should do well with synergies, decent recent earnings and very little debt with monster cash on hand. Chart and wave wise this recent freefall (15% down) over just a few weeks from 36.82 (wave B high?) to low yesterday at 31.16 might be a sharp wave C decline at/near its end. Alternate count is it needs a drop below Oct low at 29.06 to complete a huge correction. Dailies are certainly very oversold but as we know can get moreso. Is this decline a "hangover" from GG takeover? like I said talk me out of (or into) buying some here. Thoughts appreciated and gracias

 

Senor


Edited by senorBS, 26 April 2019 - 02:05 PM.


#2 tradesurfer

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Posted 26 April 2019 - 07:40 PM

I guess everyone left to get a beer after a rough week in the markets tongue.png

 

NEM has similar buy structure harmonic to the GDX which I posted in another thread.

 

Ideally it would create a 'V' Bottom at this zone and just keep going up.   but it may need to back and fill before resume higher.  Maybe price stop at 30.98, under that and the gartley is probably invalid.

 

33831631238_f0aa2e1c90_h.jpg



#3 johngeorge

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Posted 26 April 2019 - 11:51 PM

IMO they stole GG, JV with ABX should do well with synergies, decent recent earnings and very little debt with monster cash on hand. Chart and wave wise this recent freefall (15% down) over just a few weeks from 36.82 (wave B high?) to low yesterday at 31.16 might be a sharp wave C decline at/near its end. Alternate count is it needs a drop below Oct low at 29.06 to complete a huge correction. Dailies are certainly very oversold but as we know can get moreso. Is this decline a "hangover" from GG takeover? like I said talk me out of (or into) buying some here. Thoughts appreciated and gracias

 

Senor

Senor I think NEM is a great buy here.....Because I think so and am a great contrary indicator.  Don't buy biggrin.png

NEM Daily Chart

 

$GOLD Daily Chart


Peace
johngeorge

#4 senorBS

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Posted 27 April 2019 - 10:43 AM

 

IMO they stole GG, JV with ABX should do well with synergies, decent recent earnings and very little debt with monster cash on hand. Chart and wave wise this recent freefall (15% down) over just a few weeks from 36.82 (wave B high?) to low yesterday at 31.16 might be a sharp wave C decline at/near its end. Alternate count is it needs a drop below Oct low at 29.06 to complete a huge correction. Dailies are certainly very oversold but as we know can get moreso. Is this decline a "hangover" from GG takeover? like I said talk me out of (or into) buying some here. Thoughts appreciated and gracias

 

Senor

Senor I think NEM is a great buy here.....Because I think so and am a great contrary indicator.  Don't buy biggrin.png

NEM Daily Chart

 

$GOLD Daily Chart

 

Thanks I think?napoleon.gif Just seems like NEM is the premier gold company and when gold finally begins its next bull phase it will likely become THE premier stock or top 3 at least, especially for institutions/fund mgrs. etc. I did but a modest initial tranche late day Friday near 31.40-45. By the way my fav smaller gold stock is WDO.to, Wesdome, WDOFF looks like a potential abc bottom last week at 3.01, closed week near 3.21 FWIW and DYODD

 

Senor


Edited by senorBS, 27 April 2019 - 10:43 AM.


#5 senorBS

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Posted 27 April 2019 - 01:20 PM

Picked this comment up elsewhere on NEM: so basically 1/3 billion dollar increase in FCF for every $100 increase in gold price, not too shabby

 

"Newmont Goldcorp said the outlook assumes $1,200-per-ounce gold price, $2.50-per-pound copper price, $0.75 U.S. dollar/Australian dollar exchange rate and $65 per barrel for West Texas Intermediate crude oil. Assuming a 35% portfolio tax rate, each $100-per-ounce increase in gold prices would deliver an expected $335 million improvement free-cash flow, the company said. Similarly, a $10 per barrel reduction in the price of oil and a $0.05 favorable change in the Australian dollar would deliver an expected $25 million and $45 million improvement in free cash flow, respectively."



#6 johngeorge

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Posted 27 April 2019 - 05:29 PM

Hi Senor

 

Picked this comment up elsewhere on NEM: so basically 1/3 billion dollar increase in FCF for every $100 increase in gold price, not too shabby

 

""Newmont Goldcorp said the outlook assumes $1,200-per-ounce gold price, $2.50-per-pound copper price, $0.75 U.S. dollar/Australian dollar exchange rate and $65 per barrel for West Texas Intermediate crude oil. Assuming a 35% portfolio tax rate, each $100-per-ounce increase in gold prices would deliver an expected $335 million improvement free-cash flow, the company said. Similarly, a $10 per barrel reduction in the price of oil and a $0.05 favorable change in the Australian dollar would deliver an expected $25 million and $45 million improvement in free cash flow, respectively.

 

 

I do believe NEM is the #1 gold mining and think anyone playing in the gold mining sector needs to own it.  Yes, when gold starts its major move up NEM will be a leader all the way. I do own NEM,but,not enough of it. Will start adding to NEM very soon along with adding more WDOff to my position as well.  Can't own enough of WDOFF either.

 

Best to you. 

 

 


Peace
johngeorge

#7 senorBS

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Posted 30 April 2019 - 02:51 PM

looks like NEM may finally have a very modest up close after TEN straight days DOWN, there are miracles!swoon.gif

 

Senor



#8 dasein

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Posted 06 May 2019 - 05:24 PM

i own some nem but what do you guys think bout PL?


best,
klh

#9 diogenes227

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Posted 06 May 2019 - 08:48 PM

If gold stocks are going to someday go up, why not NUGT or JNUG, You know, the whole sector with leverage.

 

As for stocks, most of these gold guys look alike to me although NEM looks like it's the worst of the lot (which is probably a contrarian reason to consider it over the others).

 

KL evidently is the leader in the sector at the moment.

 

Whenever I've jumped into this in the past, it's been SBGL. When this herd gets spooked, that little bugger, SBGL, is a jackrabbit, sometimes a gazelle, even a crazy kangaroo, while NEM seems to be a lumbering ox trudging along a dusty trail rather than the yellow brick road..

 

Not that I give a hoot for fundamentals, but sometimes I wonder what is a reason for the stocks to go up?  Obviously, must be something, but what any time soon?

 

 


Edited by diogenes227, 06 May 2019 - 08:49 PM.

"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

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#10 dougie

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Posted 07 May 2019 - 01:18 AM

Why go up? been down for too long...