NST like NCM has embraced all the bad news on the bond yield front while largely ignoring the price of gold. The chart patterns of NCM and NST are almost perfect overlays as the influence of gold ETF’s is very evident – the good news is we are getting some strong contrarian buy signals from the gold ETF’s as investors have abandoned the space as bond yields increase.
NB: Northern Star have reported this morning with a mixed result, the conference call is on at 9am so we’ll have more this afternoon.
MM is long and bullish NST
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