charlies tip, page-6

G'day Dyso,

In since $6.00 ! Wow ... that's foresight if ever there was.

I have been in and out of NCM many times - most times with profitable outcomes (except once when an over exposed position caused me to "panic sell" near a $17 bottom ... ah well, we live and learn). This run saw me take a position after NCM broke through the $27 resistance level, so I am well in the money.

I liked the break above the old high recently - esp. since it was followed up with a break above the psycholgical $40 level - which suggests that NCM has avoided making a double top.

Whether that breakout was the 'real deal' or a false breakout remains to be seen. While today's price action may appear disconcerting it is comprehendable in the light of NCM's recent rise and the atmosphere of panic that prevailed this morning.

If NCM can close well of its lows by day's end I would no be too worried. I still like the momentum in the gold price which has its spinnaker set to catch the wind that will take it beyond $1000.

Volatility is the name of the game with gold and with NCM ... but my technical take still shows it to be in a well defined uptrend.

Only if it breaks below $33 on an end of week close (on strong volume) would I consider exiting my position and safeguarding profits.

Nothing is certain in this climate ... but that's how I see it and intend to play it (unless some untoward event from left fied transpires)

I too recall Diatribe, yourself and Bruce R from "the early days" ... thankfully I got out of Croessus Mining with a nice profit before it turned and bit holders savagely on the posterior causing many to jettison the concept of a gold boom totally. But things move in cycles / waves and, although I too, for a time, exited gold postions I feel that now is the time to have exposure to quality gold counters (like the ones Charlie Aitken recommends).