Looks like gold is gearing up (at last) to head significantly north.
And NEM is my pick for the 'safe ride' ...nice inverted head and shoulders pattern is forming and NEM is now above its 50 day EMA
Getting ready for that nice run with a first stop at around $5.40.
If a sector is getting ready to move (and I believe that gold is) then it pays to get into the biggest global gold miner as this will be the one that the big money will pour into (whether it is good value or not) ... it's just the way it is and will be ... and it's how I intend to play this next push up in the gold price.
It's much safer than punting on the penny dreadfuls and the second liners. 'Going for certain gains' makes sense to me.... well, as certain as one can get in this market !
NEM at around $5.00 is looking okay ... once it's thru $5.10 on volume this should run quite hard .... imo
NEM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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