Why Not Write About A Gold Miner? New Gold (NGD)

Gold miner New Gold (NGD) is recovering nicely.

Why not? Why not write some fun to write posts on individual positions (miners or otherwise) once in a while, instead of force feeding macro down the nice readers’ throats all the time? Eh, Gaahh?

Reasons why I like NGD? “Rainy River turnaround”… blah blah blah, “North American (lower risk) mining locales”, blah blah blah and “improving performance”, blah blah blah. ” Bottom feeder chart (not blah blah blah). It was my main reason for originally taking a shot with this established miner.

So yes, I first added NGD (Roth IRA, as noted in NFTRH) as a “bottom feed” early in the year around the 1.10 area support, dumped it for a large profit, and then bought it back in June (IRA and taxable account, also noted in NFTRH) on the pullback to the up-trending SMA 50. It is currently sporting another 40% paper profit and the daily chart is ticking a new high for the bull cycle.

The weekly chart shows a channel buster, long-since left behind and a break to earth shattering new highs!!!

Okay, calm down. The monthly chart says it’s still just a bottoming situation. Albeit one that is breaking out of its base. I am not recommending anything here because I hold it from lower levels and it is overbought. But taken at face value, and assuming improving fundamentals/operations (always a big assumption with miners), this chart shows much more potential relative to the past.

For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed market updates and NFTRH+ dynamic updates and chart/trade setup ideas. Subscribe by Credit Card or PayPal using a link on the right sidebar (if using a mobile device you may need to scroll down) or see all options and more info. Keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar. Follow via Twitter@NFTRHgt.

********