NEM - Newmont Mining Corporation
- Thread starter Sean K
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I'm thinking it looks like the 20 day expiry for your order has just elapsed & the order has been purged?
(20 Trading Days for standard accounts or 5 Trading Days for Margin Lending Accounts).
Ah ok, I didn't realise that. Although under the order it says this:
Trigger Expires: 28/08/2008
Trigger Status Purged
Sean K
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This project is coming along OK. Holding above $5 is encouraging. I'm not getting toooo excited at this time though, there's still a long way to go for this to be long term trending up. Short term though, looks OK. Could we have found a bottom?? Fingers crossed. (now there's a good trading plan! LOL)
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Sean K
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Another view of resistance on the way back up. Looks like between $5.25 and $5.50 is going to provide some static.
I'm still not overly confident of a change of trend though. I'm still cautious of a fall back through $5.00 which means it's still going down, or a start of a sideways trend.
Early days in a potential recovery story.
I'm still not overly confident of a change of trend though. I'm still cautious of a fall back through $5.00 which means it's still going down, or a start of a sideways trend.
Early days in a potential recovery story.
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explod
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Add the fundamental argument and you ought to see a white candle up 5 odd cents tomorrow.
Gold price recovered some in late trading Friday to end up on the week
Talk of US interest rate cut will see US dollar fall a bit more in the next day or so which will be positive for gold.
End of holiday season in US on Teusday will see volumes rise which will offset plunge team depressing gold price.
We will see what pans out, should be an interesting week ahead
Gold price recovered some in late trading Friday to end up on the week
Talk of US interest rate cut will see US dollar fall a bit more in the next day or so which will be positive for gold.
End of holiday season in US on Teusday will see volumes rise which will offset plunge team depressing gold price.
We will see what pans out, should be an interesting week ahead
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NEM added to S&P All Ords & ASX300.
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NEM - Now included in the S&P/ASX 300 index, plus addition to All Ords. Looks as though this will add to strength in SP in the short term along with Gold price break to the upside, trading up 3.2% today
Cheers
BT
Cheers
BT
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Timing BT
Things starting to align for NEM, and their best prospects are 6 months away still.
Sean K
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Gapped up over $2.35 resistance and 200d ma linked to POG cracking $700. I'd expect some consolidation around here by this chart, pending POG continuing to jump as it did last night....Would like to see it hold above the 200d ma and then we might be able to start talking about 'up trend'. Long way to go though.
(holding)
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Sean K
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Chart wise, we would have to say the midium term down trend has turned and we're heading in another direction. Long term, I'm still not comfortable to say that the down trend has finished. As expected $5.25-5.50 providing some static, but a break through $5.50 will be very encouraging. I might personally call an 'up trend' on a break through $6.00.
EW wise, I would be interested in a perspective. On the long term chart, we might be seeing a W1.......
Looks like we might have called a bottom at this stage.
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Sean K
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This post on 7 Jul:
This is a perfect example of why people should never say never, he he
I do agree about picking bottoms, but we didn't conclusively do that, and maybe still haven't. The odds are adding up to change of trend from this time.
Sorry PG!
28 June - 02 Jul may have been the bottom perhaps.
This is a perfect example of why people should never say never, he he
I do agree about picking bottoms, but we didn't conclusively do that, and maybe still haven't. The odds are adding up to change of trend from this time.
Sorry PG!
Sean K
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Tested $5.50 and held, probably support now. Next resistance at $6.00.As expected $5.25-5.50 providing some static, but a break through $5.50 will be very encouraging. I might personally call an 'up trend' on a break through $6.00.
Looks like we might have called a bottom at this stage.
Will be interesting to see how it performs during another hickup. Hopefully these long term resistance levels provide the expected support on the way down now.
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Sean K
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Poor report in the US overnight which will effect NEM today. Cash costs have increased and reserves may be lowered. I haven't read their report but just the news items.
5.50 support to be severely tested.
5.25 may even be pushed. Still bullish on the chart till that support line broken.
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It's not good but could be oversold? I'd say it could go as low as $5.10 here today which would represent a good opprtunity.
It highlight's a growing problem faced by all gold producers and signals that a new round of gold company consolidation is about to get underway, if POG keeps going. (In inflation adjusted figures the party hasn't even started yet)
It highlight's a growing problem faced by all gold producers and signals that a new round of gold company consolidation is about to get underway, if POG keeps going. (In inflation adjusted figures the party hasn't even started yet)
Sean K
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I agree here. There's hardly been a major discovery the past few years, and the goldies are looking for ways to grow. With cash costs up, and development expensive, it's a no brainer. Just a matter of who's next.
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Poor report in the US overnight which will effect NEM today. Cash costs have increased and reserves may be lowered. I haven't read their report but just the news items.
5.50 support to be severely tested.
Support Broken, it will be interesting to see where it is at at the close.
Cheers.................................
BT
Sean K
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I'm out. I'm only into this due to the price action and I have no faith in them after the past year, so best I wait till it resumes an uptrend. Might have pre-emted it a bit, but the gap down shows a lot of poor sentiment IMO.
My nice wide stop loss got hit, disappointed as it had been doing everything right up till today. We tend to close at around the US price, so around $5.12, but who knows today.
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I'm out. I'm only into this due to the price action and I have no faith in them after the past year, so best I wait till it resumes an uptrend. Might have pre-emted it a bit, but the gap down shows a lot of poor sentiment IMO.
You give up to easily!
What not try a hold and see approach, as you yourself has stated M&A activity in the sector could be exponential if the Gold bugs are correct in their estimations.
Good Luck
BT