Hi MAte, Yeah just cause someone new on the Gold scene turns up and buys putting up a notice, It just means they have some money under management, in the end, when someone sees how much they have lost since their foray into NCM, they might be right over time but their investors might put a few redemptions on them and bang, just like Paulson, things get messy.....
I just cant do NCM long side ATM given all the numbers, seems to me everyone is totally long, and like when everyone is totally short,,the boat tips and with a register of 766M, it can go for a while...90days 9.07 to 14 plus, if gold breaks the psychological 1300USD and POG AUD remains below 1450 for longer, or NCM do anything to miss their own forecasts, cant see why the price wouldn't retest 9.07..
Equity market has done it for a weekly close over the 5301.1....I don't agree with it, but the bulls have the floor and that wont imo be good for non yielding gold. aud rising..
PS,,,on technical note, Ill post some basic stuff later,,,but it should be noted the 100DMA breaking through the 50DMA, so the short term guys are now enduring growing pressure by continual selling from those caught way up high,,,haven't seen that since I posted the similar chart at 26 plus....
1150 ,still very expensive imo considering its forward expected results....
Have a good week end,,ET all
NCM Price at posting:
$11.47 Sentiment: Hold Disclosure: Held
