newcrest hopeful, page-26

Agree still think the run up in NCM has some legs to it, the fall last year to below $30 was ridiculously overdone and factoring in some pretty bad scenarios. Like I've said before, there is more upside risk to NCM at the moment compared to downside based on the level of the falls.

Haven't seen NCM up this much in a while, and it's pretty important for NCM to close up above $33.80 level if I remember right, that's a strong support/resistance level. I notice this morning it opened above this level, fell below briefly and then found strong support and now bounced well off that level. Looks the goods for once.

I added to some of my positions on Wednesday based on the fall on lower volumes and rises on bigger volumes (showing signs of sellers being exhausted and buyers taking control), didn't expect this big of a bounce though. Volumes looking good again already today, already traded as many shares in 2 hours today than most of Wednesday.