Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

New Found Gold Corp V.NFG

Alternate Symbol(s):  NFGC

New Found Gold Corp. is a Canada-based mineral exploration company engaged in the acquisition, exploration and evaluation of resource properties with a focus on gold properties located in Newfoundland and Labrador, Canada. The Company holds a 100% interest in the Queensway Project, which comprises a approximately 1,662 square kilometers area, located about 15 kilometers (km) west of Gander, Newfoundland and Labrador, and just 18 km from Gander International Airport. The Queensway Project is divided by Gander Lake into Queensway North and Queensway South. The Company is undertaking a 500,000-meter drill program at Queensway.


TSXV:NFG - Post by User

Comment by likeikeon Jul 04, 2022 12:17pm
77 Views
Post# 34799347

RE:RE:Bdog

RE:RE:BdogWe have been using Gold’s Real Price, as deflated by the US CPI, for a long time. It goes down in a great bubble such that Gold Stocks are poor performers. But with the post-bubble contraction this price goes up making gold mining more profitable, launching a lengthy bull market for the sector. Of course, with monthly postings one has to wait to see critical changes. Thus the review of Gold/Commodities, using the CRB, which can be monitored by regular technical research and by our “In House” methods. On Weekly, Daily, or Monthly determinations. Both methods are at extremes, suggesting a potential trend change, that no matter which method could be very interesting. Moreover, the reversal could anticipate a new and universal bull market in the Precious Metals Sector. Representing larger cap stocks the GDXJ soared to a technical climax at 139 in April 2011. This was with the last big boom in commodities. And that commodity boom indicated that the great financial bubble could complete around a decade later. The peak for the S&P was in last January, nicely within the time window. Historically, one would expect the Golds (GDXJ) to underperform the S&P as the bubble completed. Indeed, the last high was set at 64 in July 2020 as the sector became very overbought. This was on many of our measures, which was noted as we advised Investors and Traders to lighten positions. Also, noting the future problem of the eventual collapse in the bubble. Underperforming would be bad enough, but Golds would wash out with the failure that ended the bubble. GDXJ has sold off to 34, but is not oversold on the Weekly. Symmetry suggests this index could decline to oversold. However, as anyone watching “Junior” exploration stocks knows, the decline has been severe. The TSE Venture Index has sold off from the high at 1100 in February 2019 to 647 this week. A stock with a gold discovery that got world attention in 2017 soared from 70 cents to almost $9 in that otherwise dull year for golds. Often discovery plays selloff to around 1/3rd of the high, and the stock traded between $2.50 and $3.50 from 2019 into early this year. The stock has since plunged to 50 cents this week. And in talking with some mining brokers, there have been other equivalents, so this important gold sector is a disaster – perhaps as bad as it gets. Relief will come, not with promotion, but with the end of forced liquidation. And from exhaustion such stocks could start a quiet rise. In such an environment a new story may have a better outlook than old ones. Success could be found in seasoned exploration stocks that in not having been promoted do not have an overhead of offside shareholders.
<< Previous
Bullboard Posts
Next >>