It all comes down to whether you are bullish or bearish on gold and copper price.
Im bullish on both in the near term therefore im holding (bought some @ $11.50)
What I cant control is how many media organisations gang up on Newcrest and jawbone the stock down.
Evolution Mining have been under forcasting slightly so as to never disapoint the market. Newcrest's only sin (my opinion) is not being negative on their own company before the financial review. If info was leaked, I suspect a cyberspy or an underling - but not managment.
Newcrest isnt Woolworths or CocaCola - but many conservative Aussie funds hold Newcrest and have to sell because of the paper write down.
I think this is an attempted shakeout - nothing else should be surprising the market - everything Newcrest has done is completely logical to anyone who has been watching the gold price.
NCM correlates the XGD index very closely - NCM has lead the index up and down.
NCM Price at posting:
$11.55 Sentiment: Hold Disclosure: Held
