It's valiantly trying to hold at 15 ... But I think it's a losing battle ... Too much negativity is hurting this one. ... Gold price in ugly retreat and the strong US$ must be making o/seas investors very wary about NCM. Looks to me as though it's destined to overshoot on the downside. Might be good pickings around $12 if it continues to slide.
Those fortunate enough to pick the bottom could make a mottza on this one .... But where will it come to rest? I first bought NCM under $10 when the gold bull was in its infancy. Been in and out of it many times ... Made some serious $'s but gave most of it back through some ill timed trades. This is a dangerous stock to trade .... Exciting when you get it right but the converse can be very painful. My biggest lessons learnt when trading NCM: always have sensible stops in place and NEVER average down ... It's often more profitable to buy on the breakout above a new high ( but that won't be happening for a very, very long time).
Good luck to those hardy holders.
NCM Price at posting:
$15.01 Sentiment: None Disclosure: Not Held
