Moriarty: Newmont Went Down 7% One Day a Week Ago. Here is Why
Newmont went down 7% for the same reason a dog walks into the middle of the road to lick its dick.
Because it can.
A number of other writers including John Hathaway are commenting on the disconnect between the cost of gold and silver compared to the price of resource stocks. While gold has pretty much held its own and silver is down but a tiny bit lately, the resource stocks have been hammered to all time lows lately seemingly without reason.
There is a reason.
Actually, there are two reasons…
When looking at those charts I can only sum it up as “Bat Shit Crazy” I guess I could listen to all that white noise and buy the top but I will play it sane and buy the bottom.