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Your opponents are human
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Opponents? What the hell are you talking about?
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simply set your stop slightly below 50, (3% below is a good rule of thumb)
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Please stop making up numbers and telling me they're "good" or even hinting that they're reasonable. They are neither.
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Buying on close above 50 provides potentially unlimited upside
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Hahahahahahahahahahahahahahahahahahahahahahaha.
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At 49, you are setting a subjective stop with reasons supported by your level of fear or greed. These are poor premises for choosing a stop.
At 50, you are setting an objective stop with reasons supported by the chart. These are a excellent premises for setting a stop.
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Man, this is great stuff. I wonder how many people will actually believe all this.
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After it breaks out it is 100% normal for price to test $50 before it runs.
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And you still think it's a good idea to ditch your shares at $48.whatever?
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The 50-51 area is a pivot point for NEM. The difference between 49 and 50 is very large. Alot of emotion is focused on the 50-51 area.
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I wish you'd stop making things up. NEM has a historical correlation to the price of gold of about 90%. Gold prices will move this stock, not whatever the fck you're talking about. Here's a short economics lesson for those of you that think any of what Dan is saying is true:
1) The price of NEM moves when the price of gold moves. Here is a graph of NEM compared to the CBOE Gold Index:
2) Gold is priced in USD/Troy Ounce.
3) It is reasonable to assume that the intrinsic value of gold remains constant.
4) Gold is traded worldwide.
For those of you that can't piece all of this together, I'll help. When the US Dollar depreciates against foreign currencies, the price of gold (which is USD denominated) increases. Here's an example:
Let's say ther are 2 currencies in the world, Dollars and Euros. At time 0, 2 USD = 1 Euro and gold is 400 USD/ounce (or 200 Euros/ounce). At time 1, 3 USD = 1 Euro. This means that the price of gold is now 600 USD/ounce (still 200 Euros/ounce).
Note that this example is very much simplified, but it gets the point across. NEM moves with the price of god and the US Dollar, not whatever Dan is talking about. End of story.