Last week I posted “The Next Three Years,”outlining why the next three years are likely to produce significant gains in precious metals prices, as they continue in their ten year bullmarket, coming out of year 7 (2022) which has been a correction year.  My candidate to be the best performing stock in 2023(and beyond) is Newmont Corp.(NEM)  I recently posted about NEM and after a quick pop, it fell back again into support, as gold once again corrected. Looking at the chart, you see that most of the damage to Newmont occurred from the July earnings report and was basically completed by the end of August. Since that time NEM has been base building and just completed an inverse H&S bottom. In fact, it has produced the most bullish of signals by completing a mini inverted H&S bottom, for the right shoulder of the larger inverted H&S bottom pattern.

NEM has not broken below 40 and I don’t believe it will. With it’s 5+% yield and solid company fundamentals NEM should lead the gold miners higher throughout 2023 and the rest of this three year period, to complete the ten year run. Some smaller, speculative miners, especially in the silver space, will most likely outperform, but NEM with it’s high yield and excellent fundamentals should lead in the early stages of this next leg higher for the miners. As I previously posted, the first two targets, which I believe are slam dunks(the question isn’t if it will reach them but when) are the gaps at 51 and 57.   A small gap was created at this morning’s open @42.75. Use that as a limit order to go long. If not hit this afternoon, probably tomorrow.