timwest
Long

Newmont Mining -NEM -Daily Weekly Monthly Trying to Turn Up (2)

NYSE:NEM   NEWMONT MINING CORP
309 19 5
Massive level of shorter-term, medium-term (weekly) and long-long-term support (monthly).

MACD is turning up.

Gold             flushed down through 1200 last week and turned back up this week, perhaps worthy of a rally from here.

Buy some steadily through the next week. Then hold for a 3 range rally with a 3 range stop.

Tim 3:55PM EST 10/6/2014 23.21 last +0.50 (+2.2%)
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This is technically and fundamentally a good support level. If GLD heads any lower hitting 950 or so. We might see few bankruptcy fillings among the small miner group. Supply of gold gets thin. This sideways price action in monthly could head into 2015. Watchout for 30 Months RSI Breakout up to confirm the reversal. Provided Gold is a breakout market, There can never be another market so perfect to apply RSI breakout.
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Well, I meant Good support level for gold.
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Well, I meant Good support level for gold.
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Funny that the monthly lows in 2008 were linked to Lehmann going belly up....makes you wonder if this gold sell off is a tell of some event shortly..
+1 Reply
timwest PRO TASAVANT
http://nowandfutures.com/cot.html http://nowandfutures.com/images/cot/GC.png Commercials were short heavily, and as the large traders and speculator got stopped out of their positions, the commercials have covered their shorts. This is a great setup for a rally now that the commercials have small positions short (that's when big rallies happen) and large traders (typically long) are light on positions. The same goes for silver, but even moreso.
+2 Reply
elcololp timwest
Tim, I need your advice.. Im in PBR from $13.45... What would you do today? Im 22% up
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timwest PRO elcololp
What options are you considering?
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elcololp timwest
I sold out my positions...too much volatility for me...
Maybe I will take position again if this happens.. chart http://screencast.com/t/lgut7Z3Rq
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timwest PRO TASAVANT
This last decline is really a sign of something big going on.
+1 Reply
elcololp timwest
Whatch out! See this.. high put volume!!!! at ask! http://screencast.com/t/R6r4Fx4iitIS
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