Whimper Or A Bang?
Well, we didn’t get an early start on the hoped for November pop in the metals and miners. Tomorrow begins the new month and also brings the earnings report for Newmont Corp. (NEM) before the Tues. open. I don’t expect much, but boring would actually be positive after the lowered guidance three months ago at the last report that preceded Newmont’s large selloff. The stock chart shows a solid base and minimal downside risk, with my two gap targets offering a favorable risk/reward profile. Let’s see if the new month and earnings news lead to a whimper or a bang?
Definitely not a whimper, especially for silver. Let’s see if we can hold and build on the upside throughout the week.