Northern Star Resources (NST)
- Thread starter bazz1000
- Start date
good times.....
What do you reckon - more in this pullback?
As best i can gather, mostly from other posters, NST is being 'deleted' from the GDXJ junior gold stocks index etf by Van Eyck fund. This supposedly due to market cap size getting too big. Others said to be out: OGC, EVN
Last time there was a 'rebalancing' in 2014 it knocked more than 40% off the share price, but there was a different psychological climate around then for gold and the miners. The 2014 correction was the one that knocked me out of NST as i had already gone from profit to loss in DRM.
The candles tempt me to wait to buy. Only have weekly to go on so far, but two bearish weekly hammer candles look like being confirmed by a big red this week (which of course is incomplete and could reverse - but unlikely)
The proper pullbacks of NST have run for at least a month in the past.
As best i can gather, mostly from other posters, NST is being 'deleted' from the GDXJ junior gold stocks index etf by Van Eyck fund. This supposedly due to market cap size getting too big. Others said to be out: OGC, EVN
Last time there was a 'rebalancing' in 2014 it knocked more than 40% off the share price, but there was a different psychological climate around then for gold and the miners. The 2014 correction was the one that knocked me out of NST as i had already gone from profit to loss in DRM.
The candles tempt me to wait to buy. Only have weekly to go on so far, but two bearish weekly hammer candles look like being confirmed by a big red this week (which of course is incomplete and could reverse - but unlikely)
The proper pullbacks of NST have run for at least a month in the past.
Gold up A$40 or so overnight, fed pause on rate hikes, which Jim Rickards didnt pick.
Northern Star shows its desperation with a drilling results announcement. Hoping that true width 18.1m @ an oz per tonne will stir the markets interest. So transparent. Retrace isnt over.
Northern Star shows its desperation with a drilling results announcement. Hoping that true width 18.1m @ an oz per tonne will stir the markets interest. So transparent. Retrace isnt over.
Looks like J Rickards got it right maybe 5 days or so before fed announced no hike. Someone called Andrew on twitter having a go at him for changing his mind from where he thought there would be a rise to rates on Mar 16
Mar 12 tweets
Andrew:
@JamesGRickards so, now the Fed won't raise in March? You should run for president the way you flip-flop.
3:12am - 12 Mar 16
Rickards:
.@drew0814 It's called updating. It's what all good forecasters do and I do it every day. Key is to follow the analysis.
4:02pm - 12 Mar 16
Mar 12 tweets
Andrew:
@JamesGRickards so, now the Fed won't raise in March? You should run for president the way you flip-flop.
3:12am - 12 Mar 16
Rickards:
.@drew0814 It's called updating. It's what all good forecasters do and I do it every day. Key is to follow the analysis.
4:02pm - 12 Mar 16
Wish i bought nst instead of kcn. Went from $10 to $0.4
billybob888 said:
KCN is facing voluntary administration by the end of the year if they can't resolve their issues with the Thai government
Couldn't bring myself to buy. As well as hoping for a decent pullback, i suspect i was 'price anchoring' on what i originally bought and sold at.
Anyway the whole 1st stage of the new bull defeated me as i saw it as a bear development in AUD, rather than new bull in gold. One has segued into the other without interruption it looks.
Anyway the whole 1st stage of the new bull defeated me as i saw it as a bear development in AUD, rather than new bull in gold. One has segued into the other without interruption it looks.
Nst taking over ncm?
Might be mad, but I welcome this continuing correction in NST.
My average is 4.13, closing price today is 3.91
Chance of 3.00 - 3.50 has obviously strengthened, where I would add more. I'm now a fan of this management, and think the gold secular bull market has resumed, not that we have been witnessing a mere bear market bounce in Aust gold stocks since Nov 2014, jmo.
However, looking at the asx gold stocks index, XGD, its looking dicey as to a more severe correction.
I wonder what the other NST shareholders think, or are doing? Guess you'll tell us once you've been proven right, huh? #bitter
S&P All Ords Gold Index monthly
[imgz=http://forums.silverstackers.com/uploads/1893_big_32.gif]
[/imgz]
My average is 4.13, closing price today is 3.91
Chance of 3.00 - 3.50 has obviously strengthened, where I would add more. I'm now a fan of this management, and think the gold secular bull market has resumed, not that we have been witnessing a mere bear market bounce in Aust gold stocks since Nov 2014, jmo.
However, looking at the asx gold stocks index, XGD, its looking dicey as to a more severe correction.
I wonder what the other NST shareholders think, or are doing? Guess you'll tell us once you've been proven right, huh? #bitter
S&P All Ords Gold Index monthly
[imgz=http://forums.silverstackers.com/uploads/1893_big_32.gif]
Bought some more today at $4
Have bought NST at $1, $2 and now $4
obviously wish I'd bought a sh*t load more at $1
building cash waiting for the next big deal that will catapult them into the million oz league
Doesn't really matter what the gold price does (except to provide more buying opportunities)
Robert de Crespigny built up Normandy Mining into Australia's largest gold miner during a period of stagnant/falling gold prices,
so this management could potentially do the same
Have bought NST at $1, $2 and now $4
obviously wish I'd bought a sh*t load more at $1
building cash waiting for the next big deal that will catapult them into the million oz league
Doesn't really matter what the gold price does (except to provide more buying opportunities)
Robert de Crespigny built up Normandy Mining into Australia's largest gold miner during a period of stagnant/falling gold prices,
so this management could potentially do the same
Monday will be 'interesting' for NST
Here's the GDX chart again. The GDX etf holds 36m NST shares as at 11 Nov. GDX down 8% overnight Friday, down 16% for the week.
Counter-intuitively, according to this info site, 'uptick' dollar transaction value exceeded downtick by a ratio of more than 3:1. Block trade uptick to downtick was 10 times that. Yet the price is strongly down?
http://online.wsj.com/mdc/public/page/2_3022-mfgppl-moneyflow.html?mod=mdc_leade
Interpretation?
GDX weekly
[imgz=http://forums.silverstackers.com/uploads/1893_big_53.gif]
[/imgz]
Here's the GDX chart again. The GDX etf holds 36m NST shares as at 11 Nov. GDX down 8% overnight Friday, down 16% for the week.
Counter-intuitively, according to this info site, 'uptick' dollar transaction value exceeded downtick by a ratio of more than 3:1. Block trade uptick to downtick was 10 times that. Yet the price is strongly down?
http://online.wsj.com/mdc/public/page/2_3022-mfgppl-moneyflow.html?mod=mdc_leade
Interpretation?
GDX weekly
[imgz=http://forums.silverstackers.com/uploads/1893_big_53.gif]