big move in the gold miners, page-21

Have noted the rather large two day move in the US gold index and yet NCM falters.. Something amiss..?

Aud down and helping margins but yet NCM still trading on a forward pe of 19..

Is this too much, considering the expansion anticipated over next 6 mths..? Maybe someone else can offer and opinion..

I'm looking to enter as well but still feel there maybe a test of lower prices. The gold price needs to do a lot of work. First breach resistance of 1475 USD and subsequently hold support above and then test and breach 1550..

Feel there is still risk to downside as any weakness in gold will be seen as an opportunity to cane NCM..

Need to see a firm bounce with large buying to confirm support..



Cheers Lute