Long Newcrest!!, page-79

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swaggytrader

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06/11/22

16:35

Post #: 64614750
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Originally posted by convexity: ↑

I defiantly feel its time to jump on this one as well:
Despite US interest rates and the USD surging, Gold Prices are not too far from record highs (essentially at record highs in AUD).
There has to be some sort of financial crisis develop somewhere in the world from the significant exchange rate movements that have occurred and the rapid increase in interest rates.
It's hard to envision Gold not been a beneficiary of that turmoil.

And look at NCM:
Despite (1) it's sitting at a 10 year low; and
I note some forecasts floating about for NCM to trade at a 8x PE with a fully franked 5.1% yield in FY25 at this price (is this a high quality gold stock or a dodgy retailer??)
The technicals are a screaming a buy, clearly broken the downtrend and been consolidating in a rectangle formation off its low ever since.

I've already got a variety of long calls and sold put options in NCM and have been building that exposure for months (thus technically I don't hold the stock right now), but I will (eventually) be converting that into a (very) long long stock positions because I think NCM is a screaming buy down here.

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Great post.
My belief is the big players move this market, and when they want to buy gold they talk it down through the various media channels, and when they want to sell they talk it up. So until they start talking it up, keep buying!
NCM Price at posting: $17.40 Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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Long Newcrest!!, page-79

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