Wednesday, December 13, 2006

NEM..The Cycles Say Higher Prices Are Coming

Above we have a 7 year weekly chart of NEM.. Notice since the year 2000, NEM has been dominated by the 14 month cycle.. Most people looking at a chart would not see this, but if you are a student of cycles and how time affects market movements, you would see how powerful and accurate this cycle has been.. Every cyclical low has been profitable.. NEM appears to have turned the corner confirming the last cyclical low and is now headed up.. The RSI also dipped below the buy line and has now turned up.. I continue to be bullish on gold and gold stocks.. As always, only time will tell if this analysis is correct... Let's see what happens..

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