New Gold Inc. NGD (TSX) NGD (AMEX)

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jmcaule
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New Gold Inc. NGD (TSX) NGD (AMEX)

Would like to start a dedicated New Gold thread.

This has been my top gold mining pick for some time and has been one of the best performers over the past two years. 

Edited by admin on 11/08/2014 - 06:20
pistol
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I agree

I just recently opened a position in New Gold. If what Pierre Lassonde says about the company in his KWN interviews is true, there is a lot of upside potential here. Especially with gold at $1800+.

WangDang Doodle
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It's good to see New Gold

It's good to see New Gold breaking out despite the general market weakness.  The gains this week has brought it back into its long term channel from the lows of '08.  It might be the start of a run to challenge the all time highs of around $13.25ish.  This chart shows what I'm talking about:

http://www.screencast.com/t/r6AVE8Msezk

This is also my #1 gold pick.  I first bought it during the lows of '08 and have been trading around a core position ever since.  Management has made all the right moves IMHO, and the financial performance speaks for itself. 

I also own the warrants A & C.  I'd check out warrant A which expires in 2017!  The world will be completely different by then!

Anyone have any opinions on a catalyst that started the move?  The recently acquired Blackwater project just reported some nice drilling results. 

Green Lantern
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I think I'm gonna pull the

I think I'm gonna pull the trigger and buy some New Gold next week.    I have a few junior mines in my portfolio that are risky but I really want to be able to leverage gold in a more direct way through mining.  

This is one of the top picks by Roger Weingard and Al Korelin. 

What I'm wondering is if the chart meets Turd's criteria in today's blog.  I'm looking at the charts that he recommends buying and can't tell the difference between the one's he says he wouldn't go for? 

Can anybody explain in words what I should be looking for with Turd's charts?

Thanks

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kjm
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NGD is a good company GL but

NGD is a good company GL but it wouldn't  qualify for a Turd chart because its already hit a new high so you would be paying a premium for it. You might get a better bang for your buck if you find a smaller producer that hasn't broken out yet.

Green Lantern
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Thanks KJM.   Looking at

Thanks KJM.   Looking at other producers with a similar market cap like Minefinders (AMEX:MFN) and Alamos Gold (AGIGF) and a few others.  But the price is very nice on NGD and it's up nicely this am while others are ticking down.  Not sure why but that's what I see.

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Green Lantern
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This is moved nicely since

This is moved nicely since you started this thread.  I certainly have benefitted a little by buying it. 

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Eric Original
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NGD

I like this one a lot as well.  I'll lurk here.

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This isn't a metals blog anymore. It's a right wing circle jerk, masquerading as a metals blog.

WangDang Doodle
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NGD: Unusual trading volume a couple days ago

Hey,

Just wanted to post this chart on NGD over the last three days.  GDX just broke out to new all time highs on Friday, and New Gold is consolidating a big move itself around its all time highs.  On Wednesday NGD saw huge volume spike at the end of the day.  Probably short covering by a big player.  Take a look:

http://www.screencast.com/t/raMrV4095

I'm cautiously optimistic here; the miners resisted the sell off in stocks and followed gold higher.  This maybe the shift we've all been waiting for, and hedge fund shorties get their asses handed to them.

WangDang Doodle
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NGD Consolidating above long term channel

Looks good as NGD has moved aggressively higher today (along with all the miners).

It's been consolidating above the long term channel so this could be the move we've all been waiting for in the miners and NGD.  Many bullish looking charts!!

http://www.screencast.com/t/oBdHFL9SaRa0

Green Lantern
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Definitely looking good.   I

Definitely looking good.   I was comparing some charts today like Yamana, AuRico with NGD and I am wondering if we are coming to an overbought condition with some of these miners.   With golds lower trend of lower highs and lower lows, maybe a little profit taking is coming our way?

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WangDang Doodle
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Let's see how HUI handles the all time high...

I'd like to see the HUI test the recent highs this week, then consolidate around there before blasting higher.  NGD seems to be leading the action along with GOLD, AUY and NEM among others.  I hope to see the HUI mirror the same sort of pattern as NGD.  As I showed in the previous post NGD has been consolidating above its long term trend channel. In the case of the HUI, I'd like to see it consolidate above 610, and then we've got the base to launch!

If we continue higher without a pause then I'll probably look to take profits. 

I'm not sure what to make of gold at this point.  There's a solid bid as long as we have troubles in Europe.  My line in the sand with Gold is $1730.  If we close below that I'll change my bias to short term bearish, right now I'm neutral on gold and bullish on miners.

Green Lantern
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I'm with you Wang Dang

I'm with you Wang Dang Doodle.   I think we might see 650 or higher before a consolidation.  

Gold's sideways volatility can't continue.  It's going to break out in either direction.  Frankly, I wouldn't be surprised for Gold to reach it's 75 day moving average at $1670 if we go below $1750 for it to find some new strength. 

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