Short Newmont Mining (NEM)?

Quote from peterfigliozzi:




If I had to short this one I would wait for the first pullback after a downtrend was established. Right now, it's still trending up, so by my standards way too early.

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Absolutely.

I just pulled up charts on this issue on all timeframes and I see absolutely no indication that it is yet time to reverse the position on this issue.
 
Quote from OldTrader:



What possible "technical basis" could you possibly have for shorting a stock that is at a new high? By definition, the stock is in an uptrend. So in my opinion it would be a matter of LUCK if you manage to pick off the high here, just prior to a 20% downmove.

A good way to lose money is to short stocks on the new high list, or buy stocks on the new low list, unless you know something about the fundamentals that no one else does. It's clear here that you don't.

Maybe it's your lucky day this time....but make no mistake, it will simply be luck.

OldTrader
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This post should be mentioned every time yet another person tries to short at 52 week highs. I know somebody else quoted this too, but it's worth seeing again.
 
Quote from praetorian2:



I think that within 18 months, we see gold at 450 oz and silver around 7.5 oz.
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Notice you like Fleckenstein. So let me ask you, do you think the above? Or does Fleckenstein?

Listening to the fundamentalist fundamentalists (not a typo) can be dangerous stuff. This guy was bearish on stocks from '96. He sounds so cocky with his, "I told ya so" attitude, but the fact is he didn't tell ya so, cos stocks never went below '96.

Perma-bears always sound more believable, but they're just as slow to admit errors as the permabulls.
 
Now it's looking more like an agressive short. Resistance at $39, clear downtrend the the OBV. $37 is a conservative target, with stops just above $39. If I was going to do it, I'd wait for the next run at $39, short the reversal bar. The closer I could get it to $39, the less risk.
 
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