new look for newcrest, page-57

Hi cevatt,SG,seargent,

I am the only one here going short and the last one I sold was at 10.42 today.

My reasons are simple.....

1. I Believe the job number is going to be ok and market will rally....gold will be under pressure.
2. TA on NCM is overbought....profit taking will take place
3. Report on 14 FEB will be ok...not great but not bad...
sellers will come in...NCM is already priced in for a great number.
it is a typical buy on rumours and sell on fact.

However it feels most traders including myself believe the worst may be over for NCM so the base is already formed.

Short covering is already happening days ago but it depends on what price one shorts NCM
If you took a short at 10.45 it is only the start.

My stop is at just after 11.

It is a gamble and I am not trying to be a hero but to give back some profit from shorting NCM last year is prfectly fine and that is the risk I am willing and can afford to take.
When everyone is so SURE about something that is usually when market goes the other way....other than that I may be "lucky" this time....we shall see.

Cheers,