4 replies to this topic

[no_mind]

NovaGold Resources (AMEX:NG - News; TSX:NG - News) will be included in the S&P/TSX Composite Index and the S&P/TSX Capped Gold Index, effective after the close of business on September 17, 2004. Here's the link.

Nice looking chart.


http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=ng,uu[w,a]daclyyay[pb50!b200][vc60][iub14!la12,26,9]&r=9359.gif

[Rogerdodger]

Breakout on increasing volume. But...(there's always a but) I wonder if this is a "buy the rumor, sell the news" event? When did the news of the addition to the S&P/TSX Composite Index come out?

[no_mind]

When did the news of the addition to the S&P/TSX Composite Index come out?

It came out on 9/14 at 1:42. I prefer breakouts on "no news", but I still would consider using this stock to play any gold share rally that may occur in the coming week. I'm curious on how the added liquidity of the listing will effect the way the stock trades; hopefully a narrower bid/ask spread.

[matrose]

Breakout on increasing volume.  But...(there's always a but) I wonder if this is a "buy the rumor, sell the news" event?  When did the news of the addition to the S&P/TSX Composite Index come out?

<{POST_SNAPBACK}>

The Globe and Mail (Canada) ran it Monday 13Sept
“As part of its regular quarterly review conducted this month, Standard & Poor's Canadian Index Services “…..
“ Algoma Steel Inc., Transat A.T. Inc., NovaGold Resources Inc., Western Silver Corp. and Microcell Telecommunications Inc. are the five companies that will be added to the index. All except Transat rose Monday afternoon . “

[matrose]

Have made an omission mistake should have included this in my reply : " The companies will be deleted/added from the benchmark Canadian index on Friday, Sept. 17. “