Hindsight is a wonderful thing but I don't agree on yesterday being the clear "get out" day.
Gold shares as illustrated by the HUI have been lagging bullion now for months. The overnight drop in bullion prices of USD10 couldn't possibly translate into an 8% rout of the NCM share price. Yes, it has risen quickly from A$29, but that's because USD1000 is so clearly shown in the crosshairs for bullion in the short term.
Have you watched the price action today? It was sellers only. I mean the number of 5 figure buys was so totally decimated by the 5 figure sells that the price could only go one way.........which it did.
NCM Price at posting:
$33.03 Sentiment: None Disclosure: Not Held
