NEM acting MUY, MUY BUENO
#1
Posted 13 December 2006 - 03:41 PM
#2
Posted 13 December 2006 - 03:58 PM
Volume Spike high from 9/11 is why it is holding here. Going to need a lot more volume. We'll know soon enough if this sideways holding pattern is due to distribution or accumulation...
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#3
Posted 13 December 2006 - 06:47 PM
Newmont Mining (NYSE: NEM) Climbing A Wall Of Worry Says Market Timer Frank Kollar
December 12, 2006 (FinancialWire) (By Frank Kollar)
Shares of Newmont Mining (NYSE: NEM) have been slowly climbing out of a 35% correction lasting from January through September 2006. Is it time to buy this volatile gold mining stock?
Newmont predominantly operates in a single industry, namely exploration for and production of gold. Its major operations are in Nevada, Peru, Indonesia and Australia/New Zealand and it has two development projects in Ghana.
Newmont is now just below the 50% retracement of its huge 2006 loss. This level is critical to future gains. If Newmont can close above $48.17 in coming weeks, we would then expect the current advance to quickly reach $50.13. A close above $50.13 would point to $52.93 in coming weeks.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
johngeorge
#4
Posted 13 December 2006 - 08:18 PM
Edited by Sentient Being, 13 December 2006 - 08:19 PM.
~ Johann Wolfgang Von Goethe ~
#5
Posted 14 December 2006 - 09:31 AM
cheers,
john
http://bigcharts.mar...&mocktick=1.gif
Edited by SilentOne, 14 December 2006 - 09:39 AM.
#6
Posted 14 December 2006 - 10:45 AM
Trendmagic
http://stockcharts.c...2480&r=3916.png
to 50-52 first stop, taking whole enchilada sector norte grande.
BS all the way
Senor
#7
Posted 14 December 2006 - 12:21 PM
to 50-52 first stop, taking whole enchilada sector norte grande.
BS all the way
Senor
Maybe its a time frame thing but to me looks like NEM has badly underperformed GDX since at least May 2005, and underperformed SPX through most of 2006 with a marginal improvement since OCT which may just be part of an oversold bounce rather than a new trend.......
http://stockcharts.c...9751&r=8955.png
#8
Posted 14 December 2006 - 03:01 PM
to 50-52 first stop, taking whole enchilada sector norte grande.
BS all the way
Senor
Maybe its a time frame thing but to me looks like NEM has badly underperformed GDX since at least May 2005, and underperformed SPX through most of 2006 with a marginal improvement since OCT which may just be part of an oversold bounce rather than a new trend.......
http://stockcharts.c...9751&r=8955.png
Whatever makes your tamale hot amigo. This is so obvious to Senor, but to each his own.
BSing away
Senor
#9
Posted 14 December 2006 - 03:06 PM
Maybe its a time frame thing but to me looks like NEM has badly underperformed GDX since at least May 2005, and underperformed SPX through most of 2006 with a marginal improvement since OCT which may just be part of an oversold bounce rather than a new trend.......
You may want to be on the lookout for a new overall trend in NEM. Steve Saville has been writing recently the fact that NEM has not enjoyed much benefit from high copper prices (having sold forward much of its production at $1.60) while GG for example has. He goes on to say that if gold now outperforms industrial metals (which is what I expect as well) in the next year, NEM should gain much more traction here, putting in a strong rise similar to the one enjoyed in 2003-2003.
Here's a possible count, at least to my eyes.
cheers,
john
#10
Posted 14 December 2006 - 03:25 PM
Edited by dharma, 14 December 2006 - 03:27 PM.