Jim Letourneau's Blog

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

Newmont Nice

Newmont Mines (NEM or NMC.TO) has been rising in a nice long term parallel trend channel. Since it's mid-November peak of $59.95 Newmont has been on a crash diet dropping steadily to close at $41.38 last Friday. In the face of 3 months of declining prices it is hard to get too upbeat about buying Newmont. However, if we look at the "big picture" we can see it is now at trendline support (the line is green for a reason). This looks like an excellent entry point.

Newmont Mines

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