Where to for NCM
I am new to this forum but has been following NCM for few years now. Never I felt worried about this stock till yesterday. I reckon it can hit $17 in the short term as the negative sentiment is set in after the announcement. That's my opinion. Thanks,
welcome to T$ , and if are close to correct, even i will re-consider a small nibble at NCM (not interested above $19 ). cheers and hope you go well (in the market ) :)
Can't see much more downside in ncm myself. The cyprus crises might help push gold price higher in short term so I was happy entering at $20. :D
Apart from a little volatility this morning there was no bounce suggesting its been oversold at this stage.
should open below $20.00
gold down to $1576.20 ... down $20 in the last 8 hours
NCM down 54% since 2010 highs
methinks it'll go sub-$17.00 ST
GFC lows were $16.45
chart wise $18 ish then if gold really gives way $15 ish
Having a look at the mechanics of NCM, we will see if we can find a near term target.....
Starting with NCM's recent high on the 11th Feb @ $24.77, we see it dropped into the 21st Feb, with a low at that time of $21.27.....
giving us a $3.50 range.......
So to get the target...I think for today.....we will take that $3.50 off it's most recent high of $22.94....giving us a target of $19.44........
That recent high was on the 20th MARCH, so today is 15 days since then....
Therefore, it is plausible to think we may see a low today based on the Price and Time theory of MR Gann
I would't expect NCM to bounce back after gold was smacked down by overnight markets. Real question on every bodies lips is where the price of gold goes from here! Last time gold was smacked down to 1550 in July last year it bounced back up to $1800 the following October which saw NCM rise 50% from $20 to $30 within same period. If I had the money I'd buy NCM all day long at these prices and ride the roller coaster.
Be very surprised if gold doesn't keep on it's downward path, only way I can see it competing with the $US in full recovery mode is if our friends in Nth Korea really do something silly rather than just pose!
IMO you'd be on a long term L0SER following the strategy "if I had the money I'd buy NCM all day long at these prices" - diversification is the answer, all the eggs should be spread, they've dropped to $20 for bloody good reasons! :D
is $17.50 a gold place to buy in ?? more of a KCN fan myself but i diversify !!
So US is in full recovery mode....
US food stamp industry at record high.
Real unemployment north of 20%.
US printing $85 billion per month to keep its government operational.
Stock market that keeps on taking when adjusted for inflation.
NCM has been at $20 before so todays price doesn't concern me. What does concern me is fact that gold went south prior to 2008 collapse. So are we seeing signs of another collapse... perhaps 700 trillion derivatives bubble!
Yes, BDR is another I'm playing. But there was large bet that US stock market would collapse before end of April so I'm keeping plenty ammunition on sideline for such an event.
MOY .. MOY ...read the ann.(was hoping for a drop but not today . :wink:
NCM is the most wild stock ive ever seen, great if you can trade it, im sure its made many millions and also sent many broke trying to trade it
Im on the lookout for an entry but with the price of the yellow metal breaking down again its going to be tough to find that spot to enter
NCM is for the very brave only,
good luck all
$17.50 looks good to me (the PNG political risk factor ). doubt i get t this month but the bid is there . cheers !!
Well, Salvation, hopefully we don't see $17.50 in the near future.....
So far, the target is holding, yes so far, anyway, I am in for a few, just to test my luck...
We have good volume transferring and fairly tight range......
The buyers are stepping up.......
Gold took another decent hit overnight along with the DOW dropping 100+ points is setting up for another terrible day for NCM, maybe a good chance today to catch a technical bounce as its dropped from $22.
Any idea's of the intra day low today, SCK you had posted some thoughts on this thread, what are your thoughts on todays trading???
I'm tipping salvation will get his order @ $17.50 filled this month! Not today, but soon, shorters paradise, avoid. :D
I am not sure NCM will have a shocker......and won't be surprised if it finishes in the Green.......
The Weekly Pivots are normally a good guide so here they are....
S1 1,925.00.....May test today
the BHP(Ok Tedi) v. PNG government won't help much , i think the market has listened too much to media and lost their calculator (
but remember we fell yesterday on positive US/OS leads , so are we ahead of the curve ,or following .
i am still waiting at $17.50 (but i don't expect to get it soon ) .