Minyan Mailbag: NEM
Note: Our goal in Minyanville is to remove intimidation from the financial markets and encourage an interactive dialogue among the Minyanship. We share this next discussion with that very intent.
I have a question for you...does your analysis of Nemont (NEM) today then assume that the dollar is poised for a turnaround, because let's face it - gold and the buck are tied at the hip, and there has been an inverse correlation between them for two or three years. I am not a technician by any stretch, but the buck suffered some serious damage today.
Hey, gotta ask...we have a case of Pabst riding on this!
Minyan James "Rhino" Wilkes
My analysis of NEM has absolutely nothing to do with the dollar. Nothing. I remain highly bullish on the USD irrespective of my take on NEM or the underlying metals. Gold and the USD may be 'tied at the hip' over the last 18 months or so but ANY amount of time greater than that period and the correlation breaks down entirely. So who's to say when that correlation will revert to its 20, 30, 40 yr condition of NO correlation. Point is, my takes on NEM and U.S. dollar are independent of each other.
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