A quick look at GDX and HUI (6 green,8 red) Both index closed just fraction below their previous day close.
Not sure if anyone mentioned that article in AFR monday 7jan,re iron ore turns tables on gold,showing comparison between gold,ncm,iron ore and our 3 miners,fmg,rio,bhp. From november,iron ore miners went up and gold,ncm went down.
Heres a chart showing BHP & NCM,you will notice back in OCT NCM was around 30,and BHP around 32.50 7 trading days ago BHP high 38,while NCM was around 23.50.
Last 7 days though,we have move down together,as shown by circle. Last night BHP and RIO in USA closed down over 2.5% On monday,BHP will probably be sitting under that circle,NCM hopefully will stay with the GDX index, AND maybe ,just maybe,if we go by the AFR article a reverse will occur between the iron ore miners and NCM.
I am on night shift,from this weekend,hopefully by next weekend NCM will be above my last buy @22.20
NCM Price at posting:
$21.75 Sentiment: None Disclosure: Held
