Jim Letourneau's Blog

Retired Life

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

How Low Can You Go?

Newmont Mining has been plummeting since the middle of November. These types of corrections are discouraging to all but the most diehard goldbugs. Taking a "big picture" 5 year view helps us keep our perspective. Newmont is still in a long term uptrend AND some excellent buying opportunities are in sight.

Corrections often last much longer than we anticipate, often a few days turns into a few weeks or months before reversion to the primary trend direction. Since it is impossible to nail the exact bottom of Newmont's decline (if you think you can pick it why are you reading this?) it is a good idea to plan an entry over several buying increments.

Newmont Mining