Since the end of 1997, NEM has been trading near a 10 year low while the DOW is at the all time high. Most subjects in this forum cover more obscure gold/resouce companies with the participants opting for the home run ala Bre-X. I would like to discuss long term appreciation by holding NEM, NGC or similar stock and also taking advantage of the call option premiums thereby reducing my net purchase price.
As of today, NEM is sitting on support just above $26. It hit a low of $24 and stayed under $26 for one week in January, 1998. It seems this is as good a time to start buying as any! I will not be counting on a huge bull market in gold. I will be basing my appreciation theory on NEM trading between $24 and $32. |
