NCM will get hit hard today of that there is no doubt.Short term...

NCM will get hit hard today of that there is no doubt.

Short term I think every asset class everywhere is vulnerable though. I intend to further reduce NCM exposure today and will add to my gold etf holdings - I believe the next 4-6 weeks will see a sell off in just about everything and I think the aud will likely be hard hit - a 10% fall in the aud over the next couple of months is quite likely.

So whilst the USD gold price may hold at these levels or sell off back towards 1500 I expect the aud gold price to more than hold its own near term.

My thought is the US Fed will unleash further QE if/should the DOW look like teetering through 10k - at that point I expect all asset classes to rally hard. I expect this to happen by the end of Feb next year.

Longer term NCM will be fine given its balance sheet strength and 1.5b+ in free cash flows per annum.
NCM share price doubled post gfc#1 and history will quite likely repeat , but as to where NCM( and many other oversold miners like mml) bottom who knows for sure.