I'd suggest two things:
Firstly, watch very closely at what NCM does at the trend line. The last time it hit the trend line, back in early June, the NCM SP bounced, and set off on the next leg up. If it breaks the trend line this time around, be very very careful.
Second, ask yourself this question. The recent dip in the Gold price saw "new all-time high volumes". Do you think this was the smart money getting out, or was it getting in (or adding to it's position)?
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Glen Diemar, MD
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