Russ, Moly
I think that the market could continue this rally up until the 11th December meeting for the US federal reserve, cleary they are going to cut rates again, just a matter of 0.25% or 0.5% is the question, markets will rally on this hope, now the question is as to what gold does and to decide what to do with NCM, gold has been smashed and im sure NCM will take a bath on monday morning, but at some stage russ as the market nears the 11th of december rate cut, gold will bounce because the US dollar will lose strength on this rate cut. The $$US has no option but to fall as the FED nears a rate cut, hence gold should rebound when this occur's.
A very good opotunity could lay ahead for a NCM retrace which is almost certain followed by a bounce which will be created by a bounce in gold which is ultimately created by the US federal reserve that is going to slash rates on December 11th.
I took some chips of the table with TLM for a nice profit and am happy to sit on 90% stocks and 10% cash.
If NCM get anywhere near $30 i will be swooping with a big net in anticipation of the above senario to play out with the US dollar and a solid bounce in gold, potential great trade lies ahead with NCM.
Its all timing and im going to have ago at trying to pick a NCM bottom for a very good bounce based on the above senario to unfold.
What do yo guys think??
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