timwest
Long

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

NYSE:NEM   NEWMONT MINING CORP
306 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%)
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
TASAVANT
2 years ago
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
2 years ago
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
2 years ago
Tim, I need your advice.. Im in PBR from $13.45... What would you do today? Im 22% up
Reply
timwest PRO elcololp
2 years ago
What options are you considering?
Reply
elcololp timwest
2 years ago
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
Reply
timwest PRO TASAVANT
2 years ago
This last decline is really a sign of something big going on.
+1 Reply
elcololp timwest
2 years ago
Whatch out! See this.. high put volume!!!! at ask! http://screencast.com/t/R6r4Fx4iitIS
Reply
timwest PRO elcololp
2 years ago
I did see your screencast of NEM options and I see something VERY BULLISH about that information. The put/call ratio is OFF THE CHARTS. People are buying puts like crazy after a long slide. If there are no massive new lows, then this is a sign of a wash-out bottom.
Reply
timwest PRO timwest
2 years ago
20:1 puts versus calls traded. That is extremely high.
Reply
elcololp timwest
2 years ago
Bullish? Why? The puts has been traded at ask, it means that the put's buyers bet to the downside or maybe some big player are buying puts to protect himself. 3 Big blocks 18.000 Puts BEARISH and There's one big block of 27.015 Puts at Bid (strike 15), for me it means that the trader think that the stock is not going to fall more than $15. What do you think?
Reply
timwest PRO elcololp
2 years ago
High put volume is a sign that the stock has absorbed all of the bearishness. You need "real sellers" to drive a stock down, not just people speculating on a decline. When speculators buy puts, the sellers of those puts short stock (usually) to hedge the position, creating downward pressure on the stock to some degree. But that short-selling pressure is bullish, because once the trade is already on the tape, who is left to sell??? No one. (Ok, that sounds extreme, but the point is that the market has exhausted the selling pressure and that is bullish).
Reply
timwest PRO timwest
2 years ago
And probably why NEM is up 4% today...
Reply
elcololp timwest
2 years ago
I learn a lot from you! Thanks!
PEtroleum companies i like a lot now...what do you think?
Reply
jangseohee timwest
2 years ago
Not limited to only NEM, all mining related stocks in coal, gold, silver, uranium are all up aggressively, at least for one-two weeks
Reply
hussain9 PRO timwest
2 years ago
excellent . Elliott wave analysis 1 hour interval :
Reply
hussain9 PRO hussain9
2 years ago
snapshot
Reply
ucsgears PRO
2 years ago
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.
Reply
ucsgears PRO ucsgears
2 years ago
Well, I meant Good support level for gold.
Reply
ucsgears PRO ucsgears
2 years ago
Well, I meant Good support level for gold.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out