EA: I like the action of HMY. I has had a tendency to bottom first of late and it was up nicely today. Meanwhile, NEM had its highest close yet ($47.47) in this rally off the October lows TODAY while in the face of a PM correction. Hard to imagine but that is the case. This puts it in a possible gap and run position for tomorrow.
Anyway, I believe the bigs boys are accumulating NEM at the end of day. The tape reads that way to me. Hopefully, it is not opex bs with that $47.50 strike.
When NEM moves it will move the whole sector and if it were to happen tomorrow, NEM would move to a first target of $48.50. Could go higher as the $47.50 area would become rock solid support should this happen
Regardless, the NEM action suggests to me that this is a PM correction and not a termination of trend.
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