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NEM: Talk me out of buying some here


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#21 Smithy

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Posted 25 May 2019 - 08:52 AM

Monthly S&P futures chart shaping up to be an outside key reversal for May.



#22 senorBS

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Posted 25 May 2019 - 09:25 AM

Monthly S&P futures chart shaping up to be an outside key reversal for May.

looking like a breakdown from a massive top may be close is stock market, in addition the dollar action this week just might be telling as well, I like the risk/reward here as the multi yr miner index/ETF basing action may be close to ending, obviously way too soon to tell but IMO evidence is mounting that a really good low may be at hand. Recent spike high and near term reversal in GSR may be telling as well, lots of stuff "possibly" coming together here

 

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#23 senorBS

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Posted 30 May 2019 - 02:55 PM

NEM continues to "lead" as it moves above 32 to new multi-week highs, also AEM appears to be trying to register a breakout above 41.90-42 resistance,if it does it could take off, next NEM target I have is near 32.75

 

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#24 senorBS

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Posted 31 May 2019 - 03:54 PM

NEM continues to "lead" as it moves above 32 to new multi-week highs, also AEM appears to be trying to register a breakout above 41.90-42 resistance,if it does it could take off, next NEM target I have is near 32.75

 

Senor

gotta love the big boyz leading action, that's where the serious money goes first, great day today, have a good weekend amigos, I wonder if there is anyone else left for Humpty Trumpty to slap more tariffs on?swoon.gif

 

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#25 diogenes227

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Posted 06 June 2019 - 12:05 AM

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?

 

 

 

Just following up on this post.

 

Been a nice run up in the gold stocks. Trouble is the stocks and NUGT, the ETF to own if bullish (up 33% since this post above), have all registered black candles of indecision with NEM (up 14%) ending today in a dreaded doji. KL, the leader in the sector, is up 21 % on today's close.

 

With black candles, the rest of the trade often becomes one of the easy reads in the market. Black candles are obvious signs of indecision that are resolved clearly at either the top or the bottom of the candle. The bottom of the candles is the stop on the downside. It  price action takes out the top of the candle hang on or add. See today and previous examples on the charts below.

 


"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.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#26 senorBS

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Posted 25 July 2019 - 09:22 AM

looks like NEM after poor earnings this morning could be headed for a gap fill at 36.50 area, we see

 

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#27 senorBS

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Posted 31 July 2019 - 02:31 PM

got my gap order filled at 36.51, did a bit of light buying in some other stuff, still might work lower but I like buying weakness in this

sector for now