Newmont Mining (NYSE: NEM) Climbing A Wall Of Worry Says Market Timer Frank Kollar

December 12, 2006 (FinancialWire) (By Frank Kollar)

Shares of Newmont Mining (NYSE: NEM) have been slowly climbing out of a 35% correction lasting from January through September 2006. Is it time to buy this volatile gold mining stock?

Newmont predominantly operates in a single industry, namely exploration for and production of gold. Its major operations are in Nevada, Peru, Indonesia and Australia/New Zealand and it has two development projects in Ghana.

Newmont is now just below the 50% retracement of its huge 2006 loss. This level is critical to future gains. If Newmont can close above $48.17 in coming weeks, we would then expect the current advance to quickly reach $50.13. A close above $50.13 would point to $52.93 in coming weeks.

Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.

Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.

Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.

For up-to-the-minute news, features and links click on http://www.FinancialWire.net
FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. It is not a press release service and receives no compensation from any company for its news or opinions. Other divisions of Investrend, however, provide shareholder empowerment platforms such as forums, independent research and webcasting. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on http://www.investrend.com/contact.asp
For a free annual report on a company mentioned in the news, please click on http://investrend.ar.wilink.com/?level=279
To become an investor monitor of independent research for a company in which you are invested, go to the not-for-profit Shareholders Research Alliance, Inc. website by clicking on http://www.shareholderresearch.com
The FinancialWire NewsFeed is now available in multiple formats to your site or desktop, free. Click on: http://www.investrend.com/XmlFeeds?level=268