I suppose the risk you take selling today is if Yellen sticks to the "patience" narrative, the gold futures market manipulators could use it as a trigger to reverse their trades, catching out all the stale shorts in the futures market for the fifth time since they pulled the plug out from under the gold price "big time" on the 12th of April 2013. This could trigger a rally from traders who are sitting on the sidelines expecting bad news. I actually don't care as I'm invested for the long run in the gold stocks I'm holding.
I've watched the share price of NCM closely over the last few years and sometimes these switches have been signalled by NCM trading counter to trend, just as NST is doing currently. NCM seems to be leading the pack down as the AUD POG retreats and there has been no unusual trading today as far as I can see. NST is more or less alone out on a limb and I don't blame you for taking money off the table. Could be a chance that some US traders in this stock know what might be on the futures manipulators minds, but they'd also have to know what is on Yellen's mind, which you'd think is highly unlikely.
Lets hope the gold price survives OK tonight and indeed it gives the futures manipulators reason to switch the direction of their dirty trades.
Eshmun
Chart Update - 13 March - NST, page-5
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Last
$16.79 |
Change
0.290(1.76%) |
Mkt cap ! $19.30B | |||
| Open | High | Low | Value | Volume |
| $17.00 | $17.14 | $16.78 | $60.45M | 3.571M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 2844 | $16.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.80 | 2886 | 1 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| NST (ASX) Chart |