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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: tradermike_1999 who started this subject9/4/2003 6:31:54 AM
From: ig  Read Replies (1) of 74559
 
A simple thought about NEM:

Premise:
The USA stock market will rally until the '04 USA election, then it will Sell The News (of Republican victory).

Premise:
The money-flow pumping the rally will not involve gold-mining stocks; "conventional" stocks are more attractive to Dumb Money during an economic rebound.

So, I sold NEM Friday at 39 (a position I opened in March at 25). NEM's chart suggests there will be an opportunity to buy back at 32. If I am wrong and it runs from here, I will expect to buy a pullback to 40.

ig
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