Higher Highs Ahead for Newmont Mining Corp (NYSE: NEM)
Says Market Timer Frank Kollar
September 1, 2010 (FinancialWire) (By Frank Kollar)
Shares of Newmont Mining Corp (NYSE: NEM) are closing
in on their all-time highs at $61.93, reached back on July
9, 2010.
On Monday, August 30, Newmont Mining closed above an important
resistance level at $59.91, setting up the run for new
highs.
With bullion in rally mode it looks like a breakout is
in the cards for this widely traded mining stock.
If Newmont Mining does break out to new closing highs,
the initial target for the advance is at $65.84. If surpassed
the target will be $68.99. This is 12.5% above the Tuesday,
August 31 close.
http://www.fibtimer.com does
not currently have a current position in Newmont Mining.
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.
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.
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